News

Krucible’s Merger and Acquisition (M&A) Progress Statement was lodged with the ASX on 15 September 2014, outlining how the Company believes that completing its current industry-leading, 3-part strategic plan to grow the company and secure Krucible over the long term may provide regular cash dividends, far better for shareholders than a quick cash grab now. The announcement clarified that Resolution 3 of the s249D petitioned by one shareholder to pay a dividend is invalid and will not be put to shareholders. The announcement reminded shareholders of the enormous work done by the existing management team to save the Company from imminent closure in mid 2012. The funds from that work,which have only been in-house for a little over 6 months, will guarantee around 5 years of exploration at an annual budget of about $2m, Other news was the progress in discussions towards an international deal for turning the Company’s rare earths into additional shareholder wealth, particularly following recent Chinese exposure. Again management has devised clever strategies to rescue the significant past investment made in exploring and discovering Krucible’s rare earth resources. The announcement also detailed the progress with potential M&A or Joint Venture negotiations within Australia which are expected to lead to continuous revenues for the Company to ensure it has the resources to develop any discoveries.

Krucible announced on 5 September 2014 that drilling of approximately 2,500 metres at Toomba EPM 15367 was beginning in the same week (now starting on 18 September 2014). Drilling is planned on previously untested targets as well as the Champ prospect where indications of further copper and base metal mineralisation are expected. Results are expected to be announced in November. Also, on the 8 September 2014, Krucible received national coverage in the Australian Newspaper for the Company’s innovative foray into the rare earths market, with plans to avoid the mistakes made by others in that sector, particularly by developing low cost processing technology so that the final product from Krucible can be profitable at today’s rare earth prices. Krucible announced that it is currently seeking a strategic partner to develop its rare earths south of Mt Isa, and is currently in talks with several parties here and overseas.

 

Krucible is a successful and financially secure junior resources company with an enviable history of discovery in phosphorus and heavy rare earth elements plus a proven ability to commercialise its discoveries. Listed on Australia’s main stock exchange since 2007, Krucible continues to explore for precious metals, base metals and strategic metals like strontium and rare earths, and is transitioning to be a combined exploration and mining company. Krucible has plans and expectations to ultimately enter joint ventures to develop mines on tenements in the mineral rich Mount Isa area of north western Queensland and elsewhere and has accelerated its exploration of established and greenfield tenements. Krucible has a very strong industry-based board and management, promoting aggressive value-added mining projects and strategies.