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DISCOVEX RESOURCES LIMITED (DCX)

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Former (or subsequent) names

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REGISTRY:

Automic Group
Level 5, 191 ST GEORGES TERRACE PERTH WA 6000
Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
RegistryWebsite RegistryEmail

Company details

ISIN: AU0000081598
Address: Level 1, 72 Kings Park Road WEST PERTH WA 6005 GPO Box 2810 WEST PERTH WA 6872
Tel:  +61 8 9380 9440Fax: 08 9380 9449

Date first listed: 13/12/2007

Sector: Materials Industry Group: XMJ
Activities: Exploration for gold and base metals

News & Events

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There has been overwhelming support from both new and existing shareholders for the capital raise which has seen the Company receive firm bids in excess of the maximum $4,000,000 to be raised. DiscovEx confirms that it now has a relevant interest in 91.22% of the 141,833,334 Latitude shares currently on issue, comprising 129,386,358 shares pursuant to acceptances of the Takeover Offer by Latitude shareholders. As a consequence, the Minimum Acceptance Condition under the Takeover Offer has been satisfied. Due to timeline constraints in the standard review process at the ASX, the company will extend the Takeover Offer to ensure the Company satisfies the ASX Listing Condition prior to the Takeover Offer Closing. The Company has today resolved to extend the closing date of the Takeover Offer to 5:00pm (WST) on 7 June 2024. The Company has today resolved to extend the closing date of the General Offer to 5.00pm (WST) on 31 May 2024

24/05/2024

On 24 May 2024, DiscovEx shareholders approved a consolidation of capital on a one share for every 100 shares held basis.

24/05/2024

The company releases the results of its meeting.

24/05/2024

The company releases an Investor Presentation.

24/05/2024

The company releases a supplementary prospectus.

23/05/2024

The company releases a supplementary bidder's statement.

23/05/2024

DiscovEx confirms that it now has a relevant interest in 91.05% of the 141,833,334 Latitude shares currently on issue, comprising 29,136,358 shares pursuant to acceptances of the Offer by Latitude shareholders. The Company notes that whilst it now has a relevant interest in excess of 90% of Latitude Shares, the Offer is still conditional on the satisfaction of other conditions and as a result the Company is not presently in a position to proceed to compulsory acquisition.

22/05/2024

The company confirms that it now has a relevant interest in 84.03% of the 141,833,334 Latitude shares currently on issue, comprising 119,185,294 shares pursuant to acceptances of the Offer by Latitude shareholders.

21/05/2024

The company confirms that it now has a relevant interest in 73.84% of the 141,833,334 Latitude shares currently on issue, comprising 104,725,294 shares pursuant to acceptances of the Offer by Latitude shareholders.

21/05/2024

The company releases its first supplementary target's statement.

15/05/2024

The company has acquired 28.49% of the 141,833,334 Latitude shares, including 40,409,978 shares, following Latitude shareholders' acceptance of the Offer. The company will continue to update the market on the bid's progress and conditions.

15/05/2024

The company lodges its Quarterly Activities and Cashflow Report.

30/04/2024

The company releases a prospectus for an offer of up to 20,000,000 Shares (on a post-Consolidation basis) at an issue price of $0.20 per Share to raise up to $4,000,000 (before costs).

26/04/2024

The company releases an exploration update for Greater Duchess Project

26/04/2024

The company releases a target statement in relation to an Offer by DiscovEx Resources Limited to acquire all the shares in Latitude 66 Cobalt Limited.

26/04/2024

The company releases a bidder's statement in relation to an offer by Discovex Resources Limited to acquire all shares in LATITUDE 66 COBALT LIMITED. The Offer is dated 24 April 2024 and will close at 5.00pm (WST) on 31 May 2024, unless extended or withdrawn. The Latitude 66 Board unanimously recommend that Latitude 66 Shareholders accept the Offer subject to there being no Superior Proposal.

24/04/2024

The company's general meeting will be held at 11:30am, on 24 May 2024, PKF Boardroom, Level 5 , 35 Havelock Street, West Perth, WA.

24/04/2024

The company releases an updated notice of proposed issue of securities.

24/04/2024

The company releases an updated notice of security consolidation/split. The reason for the update is a timetable change.

24/04/2024

The company releases a notice of proposed issue of securities.

04/04/2024

The company releases a notice of proposed issue of securities.

04/04/2024

The company releases an Investor Presentation.

04/04/2024

The company releases a notice of consolidation. Shareholders get 1 share for every 100 presently owned.

04/04/2024

DiscovEx Resources Limited intends to acquire all of the fully paid Ordinary shares in Latitude 66 Cobalt Limited via its wholly owned subsidiary company Latitude 66 Cobalt Oy. The key assets of Latitude 66 comprises its flagship project in the Kuusamo Schist Belt and regional exploration projects in the highly prospective Peräpohja Schist Belts, Kainuu Schist Belts and Central Lapland Greenstone Belt in Northern Finland. Existing JORC 2012 Indicated and Inferred Mineral Resource at the KSB Project of 7.3Mt @ 2.74g/t Au & 0.08% Co for 650,000oz Au and 5,840t Co. The high-grade gold resource underpins the potential for strong project economics and a secure Europeanbased supply of economic gold and cobalt production. The multi-commodity asset provides exposure to the growing critical raw material supply chain requirements currently developing in Europe. Extensive metallurgical test work completed demonstrating a conventional flowsheet with high gold and cobalt recoveries. Significant exploration potential within regional tenure, with diamond drilling currently underway. DCX intends to raise up to $4 million via a public offer of fully paid Ordinary shares in DCX, subject to shareholder approval. Proposed Board restructure post transaction to provide the appropriate mix of technical, corporate and "incountry" experience. The current DCX Board unanimously recommends the transaction, and each member of the Board intends, subject to no superior proposal emerging, to vote all shares they control in favour of the transaction. DCX's largest shareholder Capricorn Metals has committed to vote in favour of the transaction. DCX to change its name to Latitude 66 Limited, subject to shareholder approval.

04/04/2024

Rio Tinto Exploration Pty Limited have informed DCX that it has withdrawn from the Spearhole Option Agreement previously announced on the 3rd of May 2022. The withdrawal relates to ethnographic significance north of the Spearhole detrital iron ore deposit, which would limit future exploration in the area. RTX continues to evaluate the potential of the Sylvania Option Agreement, where target areas remain accessible, and drilling was successfully reported earlier this year. Regarding the ongoing suspension of DiscovEx, the Company is continuing to progress negotiations related to a proposed material transaction and should be in a position to disclose further details once finalised.

25/03/2024

The securities of DiscovEx Resources Limited will be suspended from quotation immediately, pending the receipt of an announcement regarding a transaction that will result in a change of its activities. DCX's securities will remain suspended until it has either complied with Chapters 1 and 2 of the Listing Rules under Listing Rule 11.1.3.

11/03/2024

The suspension of trading in the securities of Discovex Resources Limited will be lifted from the commencement of trading on Monday, 18 January 2021, following the release by DCX of an announcement regarding an acquisition and a capital raising.

18/01/2021

The company releases a notice of Proposed issue of Securities - DCX.

18/01/2021

DCX agrees to acquire the Sylvania Project, an extensive, 2,247km2, highly prospective gold and base metals tenement package adjacent to Capricorn Metals Ltd's Karlawinda Gold Project, one of Western Australia's newest +2.1Moz3 gold development projects in the Pilbara. Binding commitments to raise $3.5M via a placement and an SPP proposed to raise a further $0.5M, each subject to shareholder approval. Capricorn Metals Ltd to become substantial shareholder of DCX (approx. 12%) by committing $1.2M in the placement. DCX invites Capricorn's CEO, Kim Massey, to the Board after the acquisition is completed and will also transition to a new Chairman, Heath Hellewell. Sylvania Project application tenure (as part of Crest JV, DCX earning 90%) includes the Prairie Downs Zinc (+ lead and silver) Inferred and Indicated Mineral Resource and the Spearhole Detrital Channel Iron Inferred Mineral Resource and numerous copper, nickel and other commodity occurrences and prospects. Entire project is significantly underexplored for gold, with regional geology consistent with three major gold projects in the Pilbara e.g. Karlawinda (+2.1Moz), Paulsens (+1.1Moz) and Ashburton (+2.0oz).

18/01/2021

The securities of Discovex Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of DCX, pending the release of an announcement regarding an acquisition and a capital raising.

15/01/2021

name changed from Syndicated Metals Limited

26/03/2020

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    24/08/2021Heath Hellewell4,000,000$0.005$20,000
    24/08/2021Heath Hellewell4,000,000$0.005$20,220
    29/12/2017David Morgan2,000,000$0.010$19,982
    17/08/2016Robert Cooper1,200,000$0.033$40,003
    15/04/2013David Morgan379,998$0.034$12,837

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Heath HellewellNon Exec Chairman11/03/2021
    Toby WellmanManaging Director01/12/2019
    Paul BridsonCFO18/09/2012
    David MorganNon Exec Director20/03/2012
    Nerida SchmidtCompany Secretary

    Date of first appointment, title may have changed.

    SPECIAL NOTE: During May 2024 we are working to remove duplications in the Company Secretary role.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Kim MasseyNon Exec Director11/03/202104/04/2024
    Brad DrabschManaging Director01/12/201926/04/2021
    Peter LangworthyNon Exec Chairman20/03/201211/03/2021
    Robert CooperNon Exec Director04/05/201522/11/2019
    Andrew MuncktonManaging Director, CEO20/03/201228/04/2018
    Brendan JamesNon Exec Director23/09/201306/05/2015
    Jan HopeNon Exec Director06/09/200730/06/2013
    Ki ParkNon Exec Director11/02/201031/10/2012
    Bruce McCullaghDirector01/09/200531/05/2012
    Russell DavisChairman, Managing Director29/11/201120/03/2012
    Martin PyleChairman24/05/201002/12/2011
    Andrew DinningNon Exec Director15/08/200505/08/2010

    Date of first appointment, title may have changed.