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Investing Guides
Element 25 Signs US$85M Supply Deal with GM for Manganese Sulphate
June 28, 2023
Element 25 (ASX:E25) has signed a deal with General Motors (NYSE:GM) to supply the car manufacturer 32,500 tonnes of manganese sulphate annually, according to a news report by Reuters.
The news follows GM’s announcement to take an equity stake in Queensland Pacific Metals (ASX:QPM) for a new source of nickel and cobalt for battery cells, in a move to secure the car maker’s supply of battery minerals for its North American electric vehicle production, the report said. This is also Element 25’s second major supply agreement after a deal with global mobility provider Stellantis was sealed earlier this year.
The GM deal will provide Element 25 with US$85 million to fund its Louisiana battery-grade high-purity manganese sulfate (HPMSM) facility, which is scheduled to open in 2025.
To read the full article, click here.
Click here to connect with Element 25 (ASX:E25) for an Investor Presentation.
E25:AU
21 April 2024
Goldfields Exploration Update
Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to provide an update on gold exploration activities within the Company’s strategic Eastern Goldfields project portfolio.
- RC drill hole completed under high-grade Blackfriars gold prospect (Gidji JV)
- New Exploration Licence application expands land position along Randall Fault
The Company has completed a single RC drill hole at the high-priority Blackfriars Prospect, within the Gidji JV Project (“Gidji”) (Figure 1).
The Blackfriars Target is located at the contact between the Black Flag Group and mafic and ultramafic rocks within the Boorara Shear Zone and shares the same geological setting as the >2 million ounce Paddington gold deposit along strike to the north.
Given the apparent similarities to Paddington, Blackfriars is a high priority target within the Gidji JV Project.
The Blackfriars aircore gold footprint stretches for at least 1 kilometre at greater than 1g/t Au and remains open along strike to the northwest on the other side of the Goldfields Highway.
The recent RC hole, GJRC028, tested beneath the high-grade result in aircore hole GJAC627, which ended in black shale with quartz-carbonate veining and sulphides and returned a result of 1m @ 11.8g/t Au and 6g/t Ag (46-47m EOH) (see ASX Release dated 8 April 2022).
GJRC028 intersected black shale and silicified dolerite with sulphide mineralisation and quartz stringers but was terminated at 130m due to difficult drilling conditions associated with running sands in the overlying Gidji Paleochannel.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Gidji JV Project had the potential to host a new gold camp with multiple deposits but was significantly underexplored.
“Gidji is in a fantastic location within a major mineralised structure, between two major gold camps, Kalgoorlie and Paddington,” Mr Kelly said.
“Despite this, and the record gold price, the Project has had minimal effective historic exploration, and virtually no deep drilling, as evidenced by our ability to discover high-grade bedrock gold mineralisation with shallow aircore drilling only 150 metres from a major highway,” he said.
Samples from the RC hole have been sent for analysis and further aircore and RC drilling is planned.
The Company is also working towards obtaining approvals for drilling of other high-priority targets at Gidji including:
- Marylebone – multiple high grade gold results including GJAC562 (6m @ 2.2g/t Au and up to 28g/t Ag) associated with massive sulphide mineralisation in black shale
- Roaster – 2m @ 3.3g/t Au in GJAC577 – open along strike
- Eight-mile – potential northern extension of Northern Star Resources Limited’s 300,000-ounce “Runway/8 Mile Dam” deposit
- The Jog – gravity anomaly and magnetic depletion within jog in the Boorara Shear Zone
New Application
The Company has also further expanded its strategic Eastern Goldfields tenement portfolio with a new Exploration Licence Application south of the recently acquired Lake Yindarlgooda Project (Figure 2).
The “Venetian” Target, E25/649, covers a package of mafic rocks immediately adjacent to the Randall Fault and contains historic RAB drill holes with anomalous gold results within and along strike of E25/649.
Miramar will compile all historical data and work towards grant of the tenement.
Click here for the full ASX Release
This article includes content from Miramar Resources 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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16 January
Element25 Secures Key Approval for Butcherbird Manganese Mine Expansion
Element25 (ASX:E25) has secured approval for an expansion at its Butcherbird manganese mine.
The company said on Monday (January 13) that its mining proposal and mine closure plan have received a green light from Western Australia's Department of Energy, Mines, Industry Regulation and Safety.
“This is a key approval under the Western Australian regulatory framework and marks an important milestone for the Butcherbird project,” the company explained in a press release.
Located in the Pilbara region, Butcherbird is 100 percent owned by Element25 and hosts Australia’s largest onshore manganese resource. As per a January 2024 feasibility study, the proposed expansion would increase Butcherbird's manganese oxide concentrate production to 1.1 million tonnes per year over a mine life of 12 years.
The company is currently working toward the development of an expanded processing facility at Butcherbird that will allow it to reach that number. Some of the material will be directed to the downstream steel industry.
Element25 will also use the manganese oxide concentrate from Butcherbird as feedstock for its "first-of-its-kind" battery-grade, high-purity manganese sulphate monohydrate (HPMSM) processing facility. The facility will be constructed in Louisiana, US, in partnership with carmakers General Motors (NYSE:GM) and Stellantis (NYSE:STLA).
This past September, Element25 announced the receipt of a US$166 million grant from the US Department of Energy for the construction of the HPMSM. That was on top of US$115 million from General Motors and Stellantis.
The company said a works approval is now the only document it is still waiting for at Butcherbird. Element25 submitted its application in October 2024, and expects that it will be granted in the next few weeks.
A tails storage facility has been fully approved to support operations for the first six years of processing with stage lifts; the company intends to follow up with a longer-term plan.
All other required approvals and access agreements, such as water abstraction, heritage clearances, Native Title and pastoral agreements, are in place and established from Stage 1 operations at Butcherbird.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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14 January
Manganese Market Forecast: Top Trends for Manganese in 2025
The manganese market was impacted by various factors in 2024, including growing demand for battery applications, geopolitical risk, production disruptions and strategic investments.
Positive demand from the electric vehicle (EV) sector offered support as automakers increasingly turned to manganese-rich chemistries like lithium-manganese-iron-phosphate (LMFP) to cut costs and reduce reliance on nickel and cobalt.
Meanwhile, supply chain vulnerabilities emerged due to political instability in major producing regions and heightened environmental scrutiny. In response, nations such as the US and Australia accelerated investments in refining facilities to reduce dependence on China and secure their EV battery supply chains.
Later in the year, oversupply from weaker-than-expected Chinese steel demand muted price growth in the space.
“Manganese sulphate prices turned bearish in Q4 … with slow spot buying in China and the effects of weather-related mine supply disruptions in Australia,” a Fastmarkets report from December reads.
Despite these challenges, the firm foresees a recovery in the manganese market in the years ahead.
“We expect demand to grow from now and into the 2030s, driven in part by new chemistries like LMFP,” Fastmarkets notes. In the short to mid-term, China’s supply base looks set to fulfil global needs of high purity manganese, though there is likely to be a long-term need for a greater high purity manganese capacity.”
Oversupply dampens manganese prices
Clare Hanna, senior steel analyst at CRU Group, recounted the most impactful 2024 trends for manganese.
“The key drivers in 2024 were the outage at South32’s (ASX:S32,OTC Pink:SHTLF)Groote Eylandt mine, the surge in alternative supplies and the weak state of Chinese demand,” she said.
“This led prices to first rise very sharply and then plummet as the market oversupply became apparent.”
South32 — the world’s largest manganese producer — saw operations suspended at its Australia-based Groote Eylandt mine in March due to a tropical cyclone. A phased return to mining began in June of last year; however, the severity of flooding due to the cyclone has impacted a wharf and the company’s ability to export.
In a statement, South32 said it expects exports to resume in Q3 2025.
Some of this reduced 2024 output was offset by purchase declines in China. As Hanna explained, Chinese demand was weak due to lower demand for steel rebar, which was driven by weakness in the Chinese real estate sector.
Prices for manganese ore could face headwinds in the year ahead as South32 continues to ramp up Groote Eylandt.
“The return of South32 to the market and the increase in high-grade supply could be a challenge, given the Chinese real estate market is not expected to improve significantly. Steel demand and production in other markets is forecast to improve,” Hanna explained to INN.
Key manganese demand drivers for 2025
Prized for their high energy density, automakers are increasingly turning to manganese-based batteries for their cost-effectiveness and reduced reliance on expensive metals like nickel and cobalt.
That said, as Hanna pointed out, the majority of manganese demand is still attributed to the steel sector.
“There is a lot of noise in the market about manganese usage in EV batteries, driven in part by companies looking for finance, and also because downstream, the processing of manganese ore for battery-grade manganese products is heavily concentrated in China at the moment," she said. “However, it is worth recognizing that in terms of manganese ore demand, the share that is going into EV supply chains is very small.”
The senior analyst went on to note that those dynamics are likely to shift in the coming years.
“While (EV sector) volume is growing and the demand from the steel sector is likely to decline over time, demand from steel supply chains will remain the dominant source of manganese ore demand, and therefore the biggest demand-side influence on manganese ore prices,” said Hanna.
She went on to explain why EV market usage has come to dominate the manganese narrative.
“When looking for investment, companies like to align their projects with growing market sectors, so when companies are talking about new mine investments, they often reference the EV supply chain — even if in practice, most of the ore will likely go to ferroalloy producers for consumption in steel production.”
New manganese sources outside of China
Like so many of the battery metals, the manganese supply chain is dominated by China, a factor many western nations are grappling with. In an effort to bolster supply outside of China, significant investments were made in 2024.
“What we are seeing is a number of projects aimed at producing high-purity manganese sulfate monohydrate (HPMSM) outside of China (in order to) reduce OEM EV battery supply chain risk, or take advantage of the benefits of the Inflation Reduction Act. Some of these are aligned with new or existing upstream mines,” said Hanna.
Although the plan looks good on paper, the CRU steel specialist pointed out the challenges of building HPMSM supply independent of China. She noted that operational plants are a couple of years off at minimum.
“Production of HPMSM is a chemical process, so existing producers of manganese metal or other manganese chemicals would be able to move into this product area more easily than ferroalloy producers, although there are still a lot of technical challenges. There are no ferroalloy producers outside of China moving to produce HPMSM," Hanna added.
Some of the projects in the pipeline include the Manganese Metal Company’s HPMSM Metal to Crystal project in South Africa. Described as a more sustainable process, the Metal to Crystal production method will start with a 5,000 metric ton per annum plant in 2028, followed by a 30,000 metric ton per annum plant, targeted beyond 2030.
In addition to that, Hanna spoke about South32’s Arizona-based Hermosa manganese-zinc project, which received a US$20 million grant from the US Department of Defense in May 2024. The monies have been earmarked for the acceleration of domestic production of battery-grade manganese.
Manganese processing plants have also attracted US government funding.
In September, Element 25 (ASX:E25:OTCQX:ELMT) secured a US$166 million grant from the US Department of Energy under the Battery Materials Processing Grant Program.
The funding will support the construction of the firm’s HPMSM facility in Louisiana. The grant is in addition to US$115 million already secured from offtake partners General Motors (NYSE:GM) and Stellantis (NYSE:STLA).
The feedstock for the Louisiana plant will originate from Element 25’s Butcherbird mine in Australia. In November, the company released a new resource estimate for the planned expansion at Butcherbird.
According to the company, the new estimate registers a 142 percent increase in measured and indicated resources, which now total 130 million metric tons at 10.23 percent manganese.
Additionally, the site hosts a total resource of 274 million metric tons at 10 percent manganese.
Hanna also referenced Euro Manganese (TSXV:EMN,OTCQB:EUMNF), which is developing a project in the Czech Republic using manganese from old mine tailings, as well as looking at plans for a plant in Québec, Canada.
“Firebird Metals (ASX:FRB,OTC Pink:FRBMF) (in) Australia, has adopted an alternative approach,” she said. “They are partnering with a Chinese group to build an HPMSM plant in China, which could eventually be supplied with ore from an Australian mine.”
What trends will drive manganese in 2025?
While these supply chain diversification efforts aim to secure and steady output, Hanna warned of trends to watch in 2025. Top of mind is South32’s Groote Eylandt mine and its ability to restart shipments.
In South Africa, she highlighted national rail operator Transnet's plans for expansion.
“Transnet’s plans for the new port and rail infrastructure at Coega in South Africa are still some way off,” said Hanna. “The company’s performance on the existing rail network and ability to open up the routes beyond traditional miners will influence how much ore needs to be moved via the higher cost rail route.”
Plans remain distant, while inefficiencies in the existing rail network could raise transport costs.
Meanwhile, manganese producer Eramet (EPA:ERA), has faced challenges to its production expansion plans at the Moanda project in Gabon. Hanna noted that Gabon’s production expansion in Moanda faces delays due to weak demand, compounded by past disruptions from railway landslides.
“These (plans) were slowed in Q4 by weak demand,” she said. “Work continues on improvements to the Trans Gabon Railway. Landslides and derailments in the past have disrupted supply causing ore price volatility.”
A resolution to the war in Ukraine could also serve as a catalyst to the 2025 supply and demand story.
“Historically, Ukraine was a significant producer and consumer of manganese alloys. Both have been slowed by the war. In the event of a ceasefire this year, supply is likely to return faster than demand as the large Mauripol steel plant was destroyed during the Russian invasion,” she added.
According to Hanna, key areas to watch as the year progresses are trade actions and carbon taxes.
These include the US investigation into ferrosilicon imports from several countries, as well as potential broad tariffs from the incoming Trump administration.
Elsewhere, the EU’s probe into manganese alloys and ferrosilicon may raise regional prices
“The EU Carbon Border Adjustment Mechanism is due to come in at the beginning of 2026. Ferromanganese is covered, silicomanganese is not," said Hanna. “There is a lot of uncertainty about the impact of this.”
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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01 November 2024
Element 25 Increases MRE for Butcherbird Manganese Mine
Manganese-focused producer Element 25 (ASX:E25,OTCQX:ELMTF) provided an update to the mineral resource estimate for its Butcherbird manganese operations earlier this week.
The company recently completed an infill drilling program at the site, which targeted known mineralisation within granted mining lease M52/1074, where Butcherbird Stage 1 mining and processing operations are located.
Element 25 reported a 142 percent increase in measured and indicated resources, which now total 130 million tonnes at 10.23 percent manganese. Additionally, the site hosts a total resource of 274 million tonnes at 10 percent manganese, marking a 6 percent increase from its 263 million tonne resource estimate from April 2019.
“The increase in Measured and Indicated inventory is expected to support a significant increase in the mining reserve which will translate to a longer mine life and reserve tail, an important metric in financing the project,” Element 25 Managing Director Justin Brown said. “The updated MRE will support the re-statement of the Butcherbird Ore Reserve, pending mine optimisation and scheduling activities which are currently in progress.”
Located approximately 130 kilometers south of Newman in Western Australia, Butcherbird is 100 percent owned by Element 25 and is said to be the country’s largest onshore manganese resource.
The company released a feasibility study on the proposed expansion of the Butcherbird operations to 1.1 million tonnes per annum in January. Detailed design, planning and procurement for the expansion are in progress.
According to Element 25’s website, the expansion Butcherbird’s processing facility is also essential in providing feedstock for its planned battery-grade high-purity manganese sulphate monohydrate (HPMSM) refinery in Louisiana, US.
The HPMSM refinery is the recipient of a US$166 million grant from the US Department of Energy, which will be used to cover up to half of the facility’s capital construction costs. Element 25 has also secured US$115 million from partners General Motors (NYSE:GM) and Stellantis (NYSE:STLA).
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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25 September 2024
Element 25 Chosen for US$166 Million Grant from US Department of Energy
Element 25 (ASX:E25,OTCQX:ELMTF) has been selected to receive a US$166 million grant from the US Department of Energy, the company said in an announcement on Tuesday (September 24).
The funds will come from the Battery Materials Processing Grant Program, and will be used for the construction of the company’s proposed battery-grade high-purity manganese sulphate monohydrate (HPMSM) facility in Louisiana.
The Battery Materials Processing Grant Program has a US$3 billion budget to distribute grants for endeavours that will help ensure that the US has a viable battery materials processing industry.
Element 25 has already secured US$115 million from offtake partners General Motors (NYSE:GM) and Stellantis (NYSE:STLA). The US$166 million grant will go on top of this as part of the company’s financing strategy.
"The grant will fund up to half of the construction capital costs for the project and when combined with existing commitments, will propel the project towards financial close and commencement of construction," explained Justin Brown, managing director of Element 25. He added that HPMSM facility will create long-term jobs in the state.
Manganese ore will be shipped to Louisiana from the company’s Butcherbird manganese mine in Western Australia.
The company said it has developed an innovative, advanced processing flowsheet to convert manganese concentrate to HPMSM, honing in on lower energy consumption and the reduction of waste.
After conversion, the HPMSM will be directed into the US electric vehicle supply chain.
The facility is expected to be 230,00 square feet with annual production of 71,650 tonnes of HPMSM. Element 25 said it will be one of the first HPMSM-producing commercial facilities in the US, reducing the country’s reliance on China.
Subject to grant finalisation, the execution team will work to finish the project schedule.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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24 September 2024
E25’s High-Purity Manganese Project Selected for US$166M Grant Under U.S. DoE Grant Program
Element 25 Limited (E25 or Company) (ASX: E25; OTCQX: ELMTF) is pleased to announce it has been selected for award negotiations for a US$166 million grant from the U.S. Department of Energy (DoE) under the Battery Materials Processing Grant Programme. This funding will support the construction of its proposed battery-grade high-purity manganese sulphate monohydrate (HPMSM) facility in Louisiana, USA. The grant award is in addition to the US$115 million already committed by offtake partners General Motors LLC (GM) and Stellantis N.V. (Stellantis).
HIGHLIGHTS:
- E25’s planned HPMSM facility in Louisiana selected for award negotiations for US$166 million grant from the U.S. DoE.
- Project selected under DoE’s Battery Materials Processing Grant Program.
- E25 and DoE expect to finalise a binding funding agreement for the grant as soon as practicable.
- E25 has previously secured financing and offtake from GM and Stellantis including US$115 million in project funding.
The grant application was submitted under the DoE’s Battery Materials Processing Grant Programme of the Office of Manufacturing and Energy Supply Chains, which is funded by the Bipartisan Infrastructure Law. The program is designed to provide grants for battery materials processing to ensure that the United States has a viable battery materials processing industry. The grant forms a key element of E25’s financing strategy, and the execution team will now work to finalise the project schedule, subject to grant finalisation.
E25 plans to produce HPMSM from manganese ore sourced from its Butcherbird mine in Western Australia and shipped to Louisiana. It has developed an innovative, advanced processing flowsheet to convert Butcherbird manganese concentrate into HPMSM, a critical raw material for the manufacture of lithium-ion batteries. The proprietary flowsheet reduces energy consumption, virtually eliminates waste and delivers the lowest reported carbon intensity HPMSM globally1.
Element 25 Managing Director Justin Brown said: “This grant from the U.S. Department of Energy, once finalised, represents a major milestone in our development of the Louisiana HPMSM Project and adds to the commitments already received from GM and Stellantis which include both offtake and financing agreements in support of the refinery. The grant will fund up to half of the construction capital costs for the project and when combined with existing commitments, will propel the project towards financial close and commencement of construction, creating long-term jobs for Louisiana and delivering ethically sourced, IRA compliant HPMSM to our customers.”
E25’s process offers a pathway to the delivery of expanding volumes of ethically sourced, traceable, transparent HPMSM supply to US markets. E25 plans to produce up to 135Kt per annum of HPMSM for US electric vehicle (EV) supply chains2 in a facility that is a first-of-its-kind processing facility in Louisiana.
PROJECT FINANCING STRATEGY
In mid-2023, E25 secured a US$85 million loan under an agreement with GM, whereby E25 will, in turn, supply up to 32,500 metric tons of manganese sulphate annually for GM’s Ultium battery plant requirements, which added to the commitments from Stellantis that include take-or-pay offtake commitments for 45ktpa of HPMSM over five years and U$30 million of project funding3.
The two transactions total U$115M in financing support for the project, providing an important cornerstone to the Company’s project financing activities. E25 has been co-ordinating a process to secure the balance of funding for the project’s construction costs, which were estimated in the Company’s April 2023 Feasibility Study at US$289 million2.
DoE’s Battery Materials Processing Grants Program is designed to provide up to US$3 billion in grants for battery materials processing to ensure that the United States has a viable battery materials processing industry. Funds can also be used to expand domestic capabilities in battery manufacturing and enhance processing capacity.
ABOUT THE HPMSM LOUISIANA PROJECT
Element 25 (Louisiana) LLC (E25LA) plans to build and operate a first-of-its-kind, environmentally sustainable refining facility in the Baton Rouge area, Louisiana, to produce HPMSM, a critical raw material in lithium-ion batteries.
Element 25 Louisiana will construct a 230,000 square-foot (~21,000m2) HPMSM refining facility that will employ an innovative process to produce approximately 71,650 tons (65,000 metric tonnes) of HPMSM annually from manganese ore sourced from Element 25’s Butcherbird manganese mine in Western Australia (Project). It will be one of the first commercial facilities to produce HPMSM in the U.S., reducing current dependency on Chinese sources. The project will create hundreds of highly-skilled, permanent jobs for Louisianans.
Element 25 Louisiana has secured offtake and funding agreements, including five and seven-year supply agreements with global automakers GM and Stellantis.
Element 25 Louisiana controls all intellectual property to develop and operate the HPMSM facility. It also has developed a proprietary process to remove solid waste residue as byproducts, which each have industrial applications, thus eliminating the need for a solid waste landform.
Click here for the full ASX Release
This article includes content from Element 25 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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12 September 2024
Trek Metals to Sell Pilbara-based Hendeka Manganese Project to AEFI
Trek Metals (ASX:TKM) announced on Tuesday (September 10) that it has signed a binding option and acquisition agreement to sell its Hendeka manganese project to private US-based company Advanced Energy Fuels (AEFI).
Under the agreement, AEFI has the option to acquire the project as part of a proposed US listing by paying AU$450,000 in cash; it will also issue Trek 8 million shares once it lists, or an amount of shares equal to not less than 20 percent of its total issued capital on a fully diluted basis. The maximum value of the shares will be AU$4 million.
In addition, AEFI will make certain payments, and will solely fund AU$2 million worth of exploration. Other conditions include an option fee of AU$50,000, AU$25,000 of which has already been paid by AEFI.
Trek said its subsidiaries Edge Minerals and Bellpiper hold the tenements that make up Hendeka, which is located in Western Australia's Pilbara region; AEFI will acquire these subsidiaries if it chooses to exercise its option.
The company acquired Hendeka in November 2022. A JORC-compliant inferred resource estimate outlines 11.3 million tonnes grading 15 percent manganese for the Contact and Contact North deposits.
AEFI can exercise its option any time until September 30, 2027, and will spend the AU$2 million on exploration at Hendeka leading up to that time, including minimum expenditures to maintain the tenements in good standing.
“The Hendeka Project offers significant optionality on the resurgence of the manganese sector following recent well-publicised global supply issues,” said Trek CEO Derek Marshall. “The deal is structured in a way that will give Trek significant exposure to future upside from the exploration and development of Hendeka via a 20 percent shareholding.”
He also explained that Hendeka has become a non-core project for the company given a major gold drilling program that is in the works at its Christmas Creek project, and momentum surrounding its McEwen Hills niobium project.
Trek and AEFI have also signed a separate investor rights agreement giving Trek the right “but not the obligation to appoint one Director to AEFI, as well as customary participation and information rights in AEFI.”
AEFI's listing is expected to occur on or before September 30, 2025.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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