At the instructions of Eneabba Gas Limited, the securities of Eneabba Gas Limited will be suspended immediately from quotation regarding an announcement in respect of a capital raising. Until ENB has recompiled with Chapters 1 and 2 of the Listing Rules ENB’s securities will remain suspended. An announcement that the company expects to make on or before Wednesday 12 December 2018 the details of a capital raising will be subjected to.
All resolutions were passed by way of a show of hands following the AGM held on 19 November 2018. To acquire all the securities of Domingo Lithium Pty Ltd. during March 2018 quarter ENB entered into a binding head of agreement, Domingo Lithium has four prospective lithium permits. One permit in Western Australia in application status, two permits in Argentina in the San Luis region in application status and one permit in NSW which has been granted. As informed that a new Director of the San Luis Mines Department was appointed during the quarter the company however at this stage the Domingo permits remain un-granted.
For the year ended 30 June 2018, the net consolidated loss after tax attributable to members of the Company amounted to $1,348,140. The company announced on 24 September 2018 that it had completed the sale. The sale price for the property was $425,000. For early termination of their lease covering the property net proceeds to Eneabba were subject to an 18% fee payable to the lessee Giovi Group. Eneabba received approximately $325,000, allowing for estate agent fees, Giovi Group lease termination, and settlement agent fees.
With several historic mines recording grades ranging from 5.6% up to 8.1% Li2O, the Domingo and Vulcano projects are in an area that is highly prospective for lithium mineralization. Eneabba Gas Limited (ASX: ENB) is trading flat at $0.005 as at December 12, 2018. The stock had undergone a performance change of -50% over the past one year but has recovered 25% in the past one month.
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