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C1X - COSMOS EXPLORATION LIMITED


nipper
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Cosmos Exploration Ltd (C1X) is a mineral exploration company committed to increasing shareholder wealth through the acquisition, exploration and development of mineral resource projects throughout Western Australia and New South Wales.

Cosmos Exploration  Limited was incorporated on 22 March 2021 for the purpose of spinning out the Orange East Project and Byro East Project. Cosmos is a wholly owned subsidiary of RareX. Cosmos and RareX (REE) propose to enter into a demerger implementation deed , pursuant to which Cosmos will issue RareX 10,000,000 fully paid ordinary shares in Cosmos in consideration for the Spin out Projects .

The Company currently has two exploration applications in its name, being E09/2527 and E09/2525 within the Byro East Project area. Upon completion of the Demerger Implementation Deed and Admission (and subject to obtaining Ministerial consent to the transfer in respect of EL8442), the Company will own the rights to the tenements comprising the following projects.

The Orange East Project lies on the boundary between the Molong Arc and Hill End Trough within the Ordovician / Silurian aged Lachlan Fold Belt (which is known to be a major mineral province with a number of significant mines in operation or under development in the near vicinity of the project) and the Byro East Project is located in the Narryer Gneiss Complex in the northern most part of the Western Gneiss Terrane which forms the north western corner of the Yilgarn Craton (which is a globally significant source of gold as well as base metals).

 

Listing date .... 11 November 2021 ; 12:30PM AEDT ##
Contact details https://www.cosmosx.com.au/
Principal Activities .... Mineral Exploration & Development
   
Issue Price .... AUD 0.20
Issue Type .... Ordinary Fully Paid Shares
Security code .... C1X
Capital to be Raised .... $5,000,000
Expected offer close date .... 26 October 2021
Underwriter .... Not underwritten. Canaccord Genuity (Australia) Limited (Lead Manager)
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During the quarter, the Company gathered key regional ground gravity, surface geochemical and airborne magnetic/ radiometric datasets over the central tenements reducing the search space for prospective Ni Cu PGE mafic host rocks in preparation for the AEM survey flown in June /July 2022.   :

• The Company remains well funded with $3.3 million as of 30 June 2022.

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