
September 11, 2023
Bio-Gene Technology Limited (ASX: BGT, Bio-Gene or the Company), an agtech development company enabling the next generation of novel insecticides to address insecticide resistance, announced the launch of a placement and SPP on 1 September 2023. On 5 September 2023 Bio-Gene announced that it had received commitments to raise $1.4 million via a share placement to sophisticated and professional investors. Today the Company announces that it has received a further amount of $500,000 as part of the placement.
- Total amount raised under the placement has increased to $1.9 million.
- The Share Purchase Plan forms part of the capital raising initiative announced on 1 September 2023.
- Eligible shareholders are offered shares under the SPP at the same price of $0.084 (8.4 cents) as was offered to sophisticated and professional investors, up to a maximum of $10,000 per eligible shareholder.
- Funds for the production of FLAVOCIDE® active constituent and the conduct of key studies required for regulatory approval application in Australia.
The funds raised under the placement and the SPP will enable the production of FLAVOCIDE® active constituent and the conduct of key toxicology and other studies required for inclusion in the dossier of data to support an application for registration of FLAVOCIDE® active constituent in Australia.
Tim Grogan, Bio-Gene’s Managing Director and Chief Executive Officer, commented:
“The support of Bio-Gene’s shareholders is critically important in enabling the Company to move forward with the development and commercialisation of the FLAVOCIDE® active constituent. We are very pleased with the response to the placement from sophisticated and professional investors, and the SPP enables our Eligible Shareholders to participate in the Company’s current capital raising.”
Share Purchase Plan (SPP)
In order to allow existing Eligible Shareholders (defined below) to participate in the capital raising, the Company is offering to issue fully paid ordinary shares in the Company under a Share Purchase Plan (SPP) without disclosure to investors under Part 6D.2 of the Corporations Act 2001. Under the SPP, Eligible Shareholders will be able to purchase up to $10,000 worth of new fully paid ordinary shares in the Company, irrespective of the number of shares an Eligible Shareholder currently holds.
Eligible Shareholders are those shareholders whose registered address is in Australia as at 7.00 pm (AEST) on 31 August 2023 (Record Date). Shareholders with a registered address outside Australia at the Record Date will not be eligible to participate in the SPP. The closing date for the SPP is 5:00 pm (AEST) on 27 September 2023 (and if this date changes, an announcement will be made to ASX). Further details are included in the SPP Offer Booklet which is being dispatched to Eligible Shareholders and released to ASX.
Click here for the full ASX Release
This article includes content from Bio-Gene Technology 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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30 June
South Harz Potash Limited
Investor Insight
South Harz Potash (ASX:SHP) is an advanced-stage potash development company unlocking value from one of Europe’s most strategic fertilizer assets. Headquartered in Perth, Australia, the company is currently advancing a dual-asset acquisition strategy to complement and enhance the long-term value proposition of its wholly-owned South Harz Potash Project.
Overview
South Harz Potash (ASX:SHP) holds a high-potential critical minerals opportunity strategically located in central Europe. Due to its central location, the South Harz Potash Project is primely positioned to capitalise on long-term potash price upside via its direct access to European agricultural markets, electrified rail infrastructure, and existing brownfield underground access.
Europe is seeking to enhance critical mineral resilience amid tightening global potash supply chains. European MOP supply has declined over the past decade, while imports face growing geopolitical risk due to sanctions and restrictions on major exporters such as Belarus and Russia. South Harz Potash offers a potential reliable, low-carbon, and locally-sourced future potash supply to Western Europe’s agricultural centres.
South Harz Potash completed a Pre-Feasibility Study on Ohmgebirge in May 2024, which confirmed strong project economics and scalability. The company’s key potash assets are situated over perpetual mining licenses, underpinning sustained tenure security.
A disciplined capital allocation approach sees South Harz Potash exercising ‘strategic patience’ and aligning further advancement and development of Ohmgebirge with more favorable potash market dynamics. In the meantime, the company is carefully preserving and growing the long-term real option value that it holds from being a potential world-class future domestic potash supplier to Western Europe.
Company Highlights
- Advancing a Dual-Asset Strategy: Targeting acquisition of a second critical minerals project complementary to the company’s flagship Ohmgebirge Development, part of its broader South Harz Potash Project in Germany.
- Preservation and Growth of Long-Term Potash Option Value: Amidst current global and potash market volatility, the South Harz team is focussed on advancing its potash assets via non-dilutive funding sources such as German R&D tax rebates, ERMA funding, and ongoing engagement with financial and industry parties on potential strategic asset-level investment.
- Western Europe’s Largest Potash Resource: The South Harz Potash Project comprises a dominant 659 sq km land position in Germany’s South Harz Potash District, being three perpetual mining licences (including Ohmgebirge) and two exploration tenements.
- Perpetual Tenure: The South Harz mining licences are perpetual with no holding costs and no royalty obligations, ensuring maximum project flexibility and value retention.
- Long-Term Macro Tailwinds for Potash: Europe faces declining MOP supply and is increasingly reliant on imports amid geopolitical disruption in Belarus and Russia. South Harz Potash is primely positioned to deliver stable future supply of sustainable, low-carbon potash to European markets.
- Strong Project Viability: South Harz completed a Pre-Feasibility Study (PFS) in 2024 which confirmed Ohmgebirge as a world-class brownfield development with robust technical parameters and excellent economic returns.
The South Harz Opportunity: A Dual-Asset Strategy
South Harz Potash has a dual-asset strategy designed to drive long-term value growth complementary to its South Harz Potash Project.
#1 Acquire and Advance Second Critical Minerals Asset
Leveraging its existing corporate foundation and established presence in Europe and Australia, the company is targeting the strategic acquisition of new critical minerals assets that offer strong potential to drive shareholder value creation while potash markets progressively recover.
With global market conditions rapidly evolving, South Harz Potash holds the purpose and patience to explore new opportunities, backed by a steadfast and supportive major shareholder base.
#2 Preserve and Grow Long-Term Value in South Harz Potash Project
South Harz Potash’s flagship Ohmgebirge Development, part of its broader wholly-owned South Harz Potash Project, is centrally located in Germany’s historic South Harz mining district. It is associated with established regional infrastructure, offering valuable and highly differentiating brownfield development opportunity.
Ohmgebirge hosts a maiden Ore Reserve of 83.1 Mt at 12.6 percent potassium oxide (K₂O) and a total sylvinite Mineral Resource exceeding 286 Mt. The future development of Ohmgebirge benefits from access to over 60 percent renewable grid power, electrified rail to major European ports, and water recycling systems – supporting a low-impact, sustainable operation.
Ohmgebirge forms the foundation of South Harz’s potash strategy, with nearby licences – Ebeleben, Küllstedt, and Mühlhausen–Nohra – offering modular long-term expansion potential.
Management Team
Len Jubber – Executive Chairman
With over 30 years in the mining sector, Len Jubber has held leadership roles including managing director and CEO of Bannerman Resources, managing director/CEO of Perilya, and chief operating officer of OceanaGold. He began his career with Rio Tinto in Namibia and brings a wealth of technical, commercial, and entrepreneurial experience to the company.
Dr. Reinout Koopmans – Non-Executive Director
Dr. Reinout Koopmans brings 15 years of investment banking experience from London, having led global public equity raising for natural resource companies at Deutsche Bank and headed the European equity capital markets team at Jefferies International. He also served as a management consultant at McKinsey & Co in Germany and Southeast Asia. Koopmans holds a PhD and MSc from the London School of Economics and a degree from Erasmus University, Rotterdam.
Rory Luff – Non-Executive Director
Rory Luff is the founder of BW Equities, a specialist Melbourne-based equities advisory firm, with over 15 years of experience in the financial services industry. He has spent most of his career advising resource companies on capital raisings and financial market strategies.
Richard Pearce – Non-Executive Director
Richard Pearce has over 30+ years’ experience in the mineral industry across critical, industrial and energy minerals. His participation spans the full asset life cycle and value chains, and includes key roles held across board directorships, exploration and operations management, mining finance, M&A, business strategy and operational improvement. He has a proven business development and asset commercialisation track record.
Dr. Babette Winter – Regional Director and Managing Director of Südharz Kali GmbH
Dr. Babette Winter holds a PhD in chemistry and has extensive experience in politics, communication, public administration, environmental issues, and technology. She served for over five years as state secretary for Europe in Thuringia and held various leadership roles in environmental policy and public relations within German governmental bodies.
Graeme Smith – Company Secretary
Graeme Smith is an experienced finance professional with over 30 years in accounting, corporate governance, and company administration. He is a member of the Australian Society of Certified Practising Accountants, the Institute of Chartered Secretaries and Administrators, and the Governance Institute of Australia.
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