The Company has entered into Acquisition Agreements under which the Company will acquire 100% of the issued capital of Centralist Pty Ltd and Centurion Metals D.O.O. (a subsidiary of Centralist).
Centurion holds Serbian lithium projects, being 5 exploration licenses, covering a total area of approximately 328 square kilometres.
Upon completion of the acquisitions, the Company’s main-focus will be on exploration for high grade lithium resources within these projects.
The Lithium Projects include the Cer Project, Bukulja Project, Rekovac Project, Krajkovac Project and the Vranje-South Project.
The Cer Project is approximately 10km north of the Rio Tinto Jadar Lithium-Borate Deposit - one of the largest lithium deposits in the world.
Each of the projects are strategically located throughout the country to be just a nine-hour drive from lithium manufacturers.
Raisebook is offering both sophisticated and retail investors the opportunity to bid for shares in this offer. The issuer of the securities is South East Asia Resources (ACN 009 144 503).
Raisebook is accepting maximum bids of $6,000 per entity.
The offers of the securities are made in, or accompanied by, a copy of the disclosure document.
The disclosure document for the offer can be obtained by clicking on the "Download Prospectus" button on this page.
The Securities offered pursuant to this Prospectus should be considered highly speculative. Mining exploration and development is a high risk undertaking, there are unique key risks to this investment that potential investors should be aware of.
The Offers under this prospectus are conditional upon a number of events occurring. We recommend potential investors read the prospectus in its entirety and seek professional advice before deciding whether to acquire the securities.
Anyone who wants to acquire the securities will need to complete an electronic application form which will be sent via email after downloading the prospectus.
Investment Highlights
- 5 exploration licences in Serbia (emerging lithium producer)
- Substantial exploration area ~329km²
- Two of Centurion's exploration projects are strategically located, with the Cer Project being only 10km north and the Bukulja Project being located ~ 90km east-southeast of Rio Tinto's world class jadar lithium borate discovery of 125.3 million tonnes with a weighted average concentration of 1.8% Li2O and 16.2 million tonnes of B2O3 grading 13.1% - one of the largest lithium deposits in the world
- Serbia is only current known source of Jadarite - a new & valuable lithium-borate bearing mineral (LiNaB3SiO7(OH))
- Experienced local team in place & ready for deployment
- Strategically placed for nearby European manufacturers using lithium
- A number of new opportunities under review.
Transaction Summary
- Jadar Lithium Limited is issuing 250 million shares at a price of $0.02 per share via a public offer to raise $5 million (minimum).
- Funds will be used for proposed exploration programmes on Serbian Lithium projects, compliance with company ASX admission requirements, access to equity capital markets for future funding and enhancement of the public and financial profile of the company
Serbia - Fertile Lithium Bearing Landscape
Serbia is becoming widely known as an underexplored but very fertile Lithium/REE bearing landscape.
Serbia is the only current source of Jadarite, a new lithium-borate bearing mineral discovered in 2004 by Rio Sava (a wholly owned subsidiary of Rio Tinto).
To date, the lithium borate bearing material known as Jardarite can only be sourced from Serbia.
The country has suitable infrastructure with road, rail and river transport options available with all utilities immediately accessible.
Each of the projects are “greenfields” exploration project areas that cover regions that are prospective for lithium and other pegmatite hosted minerals.
Project Overview
The company will target two different styles of Lithium Mineralisation:
- Granite complexes with associated pegmatite and greisen mineralisation. These fluids tend to concentrate elements such as lithium, tin, tungsten, molybdenum and fluorine, as well as occasionally precious metals such as gold, silver and copper.
- Jadar Style sedimentary sequences containing extensive hydrothermal lithium-borate mineralised zones. The world class Rio Tinto Lithium Borates' Jadar deposit, located nearby, is hosted by this style of mineralisation.
Studies indicate that the Serbian tenements at Cer, Bukulja, Rekovac, Krajkovac and Vranje cover areas with potential for the discovery of similar resources in these under-explored tenements.
European markets, particularly in Germany, are a significant factor in terms of the economic potential if any viable deposits are discovered on the tenements.
A two-year staged exploration program has been proposed for Serbian lithium Projects. The program will be managed and operated by Serbian geologists under the supervision of an in-country manager post acquisition.
The first year will involve various procedures of mapping and sampling, after which a suitable quantity of drilling will be decided on, based on the success of the first-year exploration effort.
Key Offer Details¹
| Offer Price per Share under the Public Offer | $0.02 per Share |
| Shares to be offered under the Public Offer | up to 250,000,000 |
| Cash raised under the Public Offer (before expenses) | up to $5,000,000 |
| Ordinary Shares to be offered under the Consideration Offer | 37,500,000 |
| Options to be offered under the Placement Options Offer | 65,250,000 |
| Shares to be offered under the Advisor Offer | 12,500,000 |
| Options to be offered under Lead Manager Offer | 5,000,000 |
| Shares on issue prior to the Offers (approximate - subject to rounding)² | 64,680,536 |
| Total approximate number of Shares on issue following the Offers | 389,530,536 |
| Ownership by Centralist Vendors at ASX relisting | 9.63% |
| Ownership by investors under Public Offer at relisting | 64.18% |
Note:
- The figures shown above assume the Consolidation has occurred and none of the Options are exercised into ordinary Shares. Please refer to Section 2.5 for further details relating to the proposed capital structure of the Company.
- On a post-Consolidation basis
Use of Funds
| Allocation of funds | Amount | % |
|---|---|---|
| Funds raised from the Public Offer | $5,000,000 | 100.0 |
| Serbian Lithium Projects Exploration¹ | $2,037,000 | 40.7 |
| Serbian Corporate Administration | $846,000 | 16.9 |
| Australian Corporate Administration² | $1,131,000 | 22.6 |
| Working Capital³ | $350,000 | 7.0 |
| Estimated expenses of the Offers⁴ | $636,000 | 12.7 |
| Total funds allocated | $5,000,000 | 100% |
- For a further breakdown of proposed expenditure, see the geologist’s report at Section 7.
- All Australian corporate administration expenses and other operating overheads, including but not limited to salaries and fees payable to Directors, employees and consultants, will be satisfied from the funds allocated to "Australian Corporate Administration" detailed above.
- Assumes AUD:RSD of 1:81.9 (yr1) and 1:84 (yr2)
- Includes, experts and advisory fees, ASX and ASIC fees; share registry fees, printing and postage, lead manager fees (estimated 6%). For further detail see Section 11.6.
Indicative Timetable
| Closing Date for the Offer | 15 December 2017 |
| Completion of the Acquisition | 22 December 2017 |
| Issue of Securities under the Offers | 22 December 2017 |
| Dispatch of Holding Statements | 22 December 2017 |
| Expected Date for shares to be reinstated to trading on the ASX | 29 December 2017 |