Archer Exploration Limited (ASX:AXE) is pleased to report on its activities for the three month period ending 30 June 2016 ("Quarter").
Archer Exploration Limited
Archer Exploration Limited (ASX:AXE) is an Australian Stock Exchange listed company with 100% ownership of 15 tenements and one Exploration Licence Application all in South Australia covering 6,053 km2.
Archer also has the rights to all minerals other than uranium on EL4693 covering a further 816 km2. Archer's main project is the Campoona Graphite Project which is located within reach of established and major developing infrastructure. It has a JORC 2004 Resource of 5.27 million tonnes @ 7.6 % TC (based on 2% TC cut-off).
Archer Exploration Ltd (ASX:AXE) is pleased to advise that the Share Purchase Plan (SPP) which closed on 7 June 2016, was heavily oversubscribed, with the Company receiving valid applications for $2,239,000 from 361 shareholders. This represents $204,644 above the maximum allowable under the ASX Listing Rules, which is 30% of the Company's share capital.
Archer Exploration Ltd (ASX:AXE) advises shareholders that the opportunity to purchase Archer shares at a price of $0.08 per share (a 19.19% discount to yesterday's closing price on ASX) under the company's Share Purchase Plan (SPP) closes at 5pm (Adelaide time) on Tuesday, 7 June 2016.
Battery grade graphite and magnesite developer, Archer Exploration Limited (ASX:AXE) has expanded its lithium prospective holdings on South Australia's Eyre Peninsula with the acquisition of additional acreage hosting lithium prospective pegmatite rocks.
Archer Exploration Limited (ASX:AXE) and Bowmans Intermodal Pty Ltd have signed a heads of agreement to identify opportunities to jointly progress the development of rail infrastructure at Leigh Creek to support Archer's Leigh Creek Magnesite Project and a possible Bowmans Leigh Creek Intermodal Facility.
Archer Exploration Limited (ASX:AXE) has identified multiple occurrences of outcropping pegmatite on the Company's Eyre Peninsula Project which hosts the Company's Campoona battery grade graphite project.
On behalf of the Board of Archer Exploration Limited (ASX:AXE), I am pleased to offer Eligible Shareholders with the opportunity to subscribe for up to $15,000 of new fully paid ordinary shares in the Company (New Shares), free of brokerage and commission, under a Share Purchase Plan (SPP or Plan).
On the 30 March 2016, the Company advised that it was successful in its application for participation in the Federal Government's Exploration and Development Incentive Scheme (EDI).
Archer Exploration Limited (ASX:AXE) The board of Archer Exploration Limited ("Company" or "Archer") is pleased to announce a share purchase plan to raise up to $0.5 million.
Archer Exploration Limited (ASX:AXE) are pleased to provide the Company's Quarterly Activities Report for March 2016.