Avenira Limited

Quarterly Activities Report for Period Ending 31 December 2024

Avenira Limited (ASX: AEV) (“Avenira” or “the Company”) is pleased to provide its Activities Report for the quarter ending on 31 December 2024 (“the Quarter”).


Highlights

  • Completion of the Strategic Investment from Hebang Biotechnology (Hong Kong) Investment Limited
  • Lodgement of a Revised Mine Management Plan (MMP) for Wonarah DSO Operations
  • Completion of Dry Season Ecology Survey at Wonarah
  • Development Pathway - Wonarah Project
  • Commencement of regional Aeromagnetic Survey at Jundee South

Completion of the Strategic Investment from Hebang

During the Quarter, Avenira completed the Strategic 2 Tranche Investment from its largest shareholder Hebang Biotechnology (Hong Kong) Investment Limited (“Hebang”), being a wholly- owned subsidiary of Sichuan Hebang Biotechnology Limited (SHSE:603077) (“Sichuan Hebang”)1. The investment comprised:

  • A$4.5 million 2-tranche Placement at an issue price of A$0.006 per new share, with Tranche 2 subject to shareholder approval and any other required regulatory approvals.
    • Tranche 1 Placement (“Tranche 1”): A$1.7 million through the issue of 285,000,000 shares, at an issue price of $0.006 per new share (completed in August 2024).
    • Tranche 2 placement (“Tranche 2”): A$2.79 million through the issue of 465,000,000 shares at an issue price of $0.006 per new share, approved by shareholders on 29 November 2024

As of the end of the quarter, funds received from Tranche 2 had been used to repay a $2.79m unsecured loan facility from Hebang.


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This article includes content from Avenira Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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