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Oil Mining Resources

Quarterly Activities Report – December 2024 Quarter

Globe Metals & Mining (ASX:GBE) < 1 mins read

Highlights

Globe successfully progresses several tasks critical to the development of its Malawibased Kanyika Niobium Project (Project).

▪ Chief amongst these tasks was the signing in December 2024 of a non-binding Term Sheet for US$10 million with The Industrial Development Corporation of South Africa (IDC).

▪ IDC's involvement substantially de-risks, and adds credibility to, the Project.

▪ Globe expects to complete the updated feasibility study at Kanyika which will validate the Project’s execution phase by March/April 2025.

▪ Globe receives a commitment on power supply for Phase 1 and Phase 2.

▪ Cash and working capital balances have been augmented by an additional short-term loan facility of up to US$1.2 million provided by Director Bo Tan in addition to the A$2.3 million facility.

▪ Cash at bank at the end of the December 2024 quarter was $0.28 million (30 September 2024: $0.72 million).

Read the full announcement here


About us:

Globe Metals and Mining is an African-focused resources company with its Kanyika Niobium Project in Malawi.

The Kanyika Niobium Project will produce niobium and tantalum products, which are key additives in high strength-low alloy (HSLA) steels and electronics. A JORC Mineral Resource Estimate indicates Kanyika could support a 20 year mine life.  

Globe’s corporate head office in Perth, Australia is supported by regional operational offices in Lilongwe. The Company listed on the ASX in December 2005 (ASX: GBE).

To learn more, please visit: https://www.globemm.com/


Contact details:

For further information, please contact:

Globe Metals & Mining Limited
Paul Smith 
Chief Executive Officer 
P: +61 8 6118 7240 
E: paul.smith@globemm.com 

Media & Investor Enquiries
The Capital Network
Julia Maguire
P: +61 2 7257 7338
E: julia@thecapitalnetwork.com.au  

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