All tagged Northern Minerals ASX:NTU
Australian heavy rare earths producer, Northern Minerals Limited (ASX: NTU) has today issued 7,500,000 convertible notes to Yuzhen Ma under the convertible note subscription announced on 23 April 2019 (on the terms detailed in that announcement).
Australian heavy rare earths producer Northern Minerals (ASX: NTU) has received the final $5 million instalment for the $7.5 million convertible debt agreement, announced as part of a combined $15 million placement and convertible debt issue in April.
Northern Minerals (ASX: NTU) (the Company) has completed the despatch of the retail offer booklet and personalised entitlement and acceptance form to Company shareholders eligible to participate in the retail component of its Entitlement Offer. In addition, a letter to ineligible shareholders was despatched on 12 June.
Northern Minerals (ASX: NTU) has completed the institutional component of its non-renounceable entitlement offer, which was announced on last week. The institutional entitlement offer raised about $2.6 million at 4.5 cents a share.
Northern Minerals (ASX: NTU) has entered into subscription agreements to raise $15 million by way of a placement and is undertaking a 1 for 13 accelerated non-renounceable entitlement offer at A$0.045 per share to raise approximately A$6.95 million, all before costs. The Entitlement Offer will involve the issue of up to approximately 154,451,564 new fully paid ordinary shares in the Company.
Northern Minerals Limited (ASX: NTU) has provided an update to investors about its future capital raising initiatives following the recently announced $20 million placement, $15 million subscription and the R&D Claims update. The $20 million placement and $15 million subscription have resulted in the Company obtaining commitments to raise a total of $35 million (with $30 million received to date) and have assisted the Company to strengthen its balance sheet and to pay down some of the Company’s existing debt.
Australian heavy rare earths producer Northern Minerals (ASX: NTU) and the Australian Taxation Office have reached an in-principle agreement regarding the Company’s repayment of the $13.4 million owing in relation to its 2016-17 and 2017-18 R&D claims. Northern Minerals will make monthly repayments over the next 24 months; however, it will also be seeking an internal review of AusIndustry's decision in relation to R&D claims.
Australian heavy rare earths producer Northern Minerals (ASX: NTU) has received the final $5 million under its previously announced $20 million capital raising, and has fully paid out its Lind and ISF R&D debt facilities. The company says discussions with the ATO regarding its payment arrangements.
Australian heavy rare earths producer Northern Minerals (ASX: NTU) says follow-up drilling has been successful at the Dazzler and Iceman deposits. A program of reverse circulation drilling has been completed, with 17 holes for 1143m completed at Dazzler and 5 holes for 300m at Iceman. Anomalous portable XRF measurements of yttrium have been recorded from several drill holes at Dazzler.
Australian heavy rare earths producer Northern Minerals (ASX: NTU) has appointed Ms Xiaohua Liu to its board as a Non-Executive Director, effective immediately. Ms Liu is an investment banker, with over 7 years’ experience in corporate advisory and equity markets, predominantly in China. Ms Liu is a Chinese citizen and resides in Beijing. Ms Liu has a Masters of Law from the China University of Geosciences in Beijing and a Bachelor of Law from Tianjin University of Commerce.