Welcome To Minotaur Exploration

Minotaur Exploration is undergoing a seismic shift in its ownership and business focus.

The Company’s Demerger General Meeting on 20 January 2022 may have been its last as an ASX listed entity. Acceptances for Andromeda Metals’ Offer to acquire 90% of Minotaur’s shares are flowing in. Your directors unanimously recommend shareholders accept the Offer.

Andromeda’s Offer is to exchange each Minotaur share for 1.15 Andromeda shares so that Andromeda can acquire control of Minotaur’s 25% share of the Great White Kaolin Joint Venture and Minotaur’s 50% share of technology joint venture Natural Nanotech.

Minotaur’s eligible shareholders at the Record Date of 27 January 2022 will receive a bonus share issue in spin-out company Demetallica, approx. equal to 1 share for every 20 Minotaur shares held. This allotment applies equally to Minotaur shareholders who accept the Offer prior to the Record Date.

Rationalisation of kaolin based assets under one entity is logical and likely to lead to a more expeditious and streamlined development project. Andromeda has advanced the Great White kaolin-halloysite project substantially over the past year, bringing it close to the time when certainty of project financing becomes critical to allow a decision to mine to be made. Andromeda’s balance sheet and large shareholder cohort places it well to seek debt and equity funding for the project’s approaching capital expenditure demands.

Andromeda’s Offer has been extended to CLOSE on 14 February 2022 and, on 100% acquisition, Minotaur shareholders will (assuming no further equity issues by Andromeda) hold 19.4% of Andromeda’s enlarged capital structure.

To accept the Offer and find more information including important dates and the Bidder’s statement, click the following link, https://www.andromedaoffer.com.au/offer/home/