Alvo Minerals Limited (ASX: ALV) has announced an extension to the closing date of its pro-rata non-renounceable entitlement offer. The offer, initially announced on March 31, 2025, and updated on April 14, 2025, allows eligible shareholders to purchase one new share for every two shares held, at a price of $0.050 per share. Each new share comes with one free attaching option for every two new shares issued.
The closing date has been extended from 5:00 pm (AEST) on Tuesday, May 6, 2025, to 5:00 pm (AEST) on Tuesday, May 13, 2025. This extension aims to provide all shareholders with additional time to participate in the Entitlement Offer. According to the company, securities are expected to be quoted on a deferred settlement basis on Wednesday, May 14, 2025, unless otherwise determined by the ASX.
The announcement of the results of the Entitlement Offer and any shortfall is scheduled for Tuesday, May 20, 2025, with the issue of new shares and new options, along with the lodgment of Appendix 2A, also planned for the same day. Quotation of the new shares under the Entitlement Offer is expected to occur on Wednesday, May 21, 2025. The shortfall offer closing date can extend up to three months from the revised closing date.
Alvo Minerals is actively exploring for base and precious metals in central Brazil, focusing on its Palma Copper Zinc Project, which holds a JORC 2012 Mineral Resource Estimate of 7.6Mt @ 2.0% CuEq. The company is also exploring for Rare Earth Elements (REE) at its Bluebush and Ipora projects.