Andromeda to acquire Minotaur and create leading Australian entity

17/11/2021

A proposed acquisition by Andromeda Metals (Andromeda) of Minotaur Exploration Limited (Minotaur) will be put to shareholders, to create Australia’s leading halloysite-kaolin and technology company that will produce in demand kaolin of the highest purity in the world.

The offer, outlined through a Bid Implementation Agreement, recommends single ownership of the Great White Kaolin Project and Natural Nanotech into a single ASX listed entity.

Currently Minotaur hold 25% interest in the Great White Kaolin Project and 50% interest in Nanotech Pty Ltd.

Managing Director of Andromeda, James Marsh says the acquisition will unlock significant benefits for shareholders of both companies.

“One hundred percent ownership of the Great White Kaolin Project will deliver simplified and streamlined ownership and will enable the design, funding mix and timetable for development of the project to be optimised. This model will deliver the greatest possible shareholder return.” Mr Marsh said.
“It is also a pivotal time for the Natural Nanotech business as we are working to enhance
development and commercialisation of future intellectual property in relation to new technology
created for halloysite applications such as battery technology, water purification and carbon
capture.

“We welcome Minotaur shareholders to Andromeda’s register and for them to continue to benefit
from further progress on the Great White Kaolin Project as we move toward production in 2022,” Mr
Marsh said

Managing Director of Minotaur, Andrew Woskett says the offer delivers a compelling premium for
Minotaur shareholders.

“By accepting the Offer, Minotaur shareholders will realise immediate value for their interest in the Great White Kaolin Project and maintain exposure to the Project via their new Andromeda shares,” he said.
“We are also excited to be packaging up Minotaur’s base metal and gold assets into a subsidiary
entity, Breakaway, and will apply for its listing on the ASX in which Minotaur shareholders will receive
pro-rata shares. Breakaway will focus on gold, copper and base metal projects in Queensland and
South Australia,” Mr Woskett said

Detailed information relating to the Offer and timetable will be set out in the Bidder’s Statement
and Target’s Statement, which are expected to be dispatched to Minotaur shareholders in late
November 2021.

Media enquiries
Sylvia Rapo
Email: [email protected]

Our Projects

Featured Project

Great White Project

Located southwest of Poochera on South Australia’s Eyre Peninsula, our flagship project is centred on the large, high-quality Great White Deposit, a naturally occurring blend of halloysite tubes and kaolinite plates.

View Project