Rolek Resources Ltd is raising $5m for ASX listing under ticker code RLK. Rolek is focused development of its advanced Barramine Manganese Project in the Pilbara and evaluation of its strategic and base metal assets in Western Australia.
Rolek Resources is a natural resources company with a portfolio of strategic and base metals located in the Kimberley, Pilbara, Gascoyne and Murchison regions of Western Australia.
The Barramine Manganese Project is located in the world class Woodie Woodie Pilbara manganese province and has had over $7.2M spent on exploration, including 27,000m of drilling. Detailed geophysics packages have been sourced, including magnetics, electromagnetics and induced polarisation. Detailed beneficiation testing has been completed and included recovery of 40% manganese ore concentrate, similar in quality to Woodie Woodie product.
There has been a sustained increase in the manganese price with strong steel demand - there is no substitute for manganese in steel production - and there is a growing demand from battery consumption for electric vehicles and capture of renewable energy. Supply is currently in deficit and the mineral has been added to the US Strategic Material list, with no manganese production in the US.
Rolek Resources’ other projects include Tantalum, Lithium, Nickel and Cobalt.
The prospectus is available on the Rolek website (rolek.com.au) and is a 2c offer with a one for five attaching 4c option.