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Cassini Resources adds substantial shareholder for nearly $1.8 million of shares

The new shareholder, Atasa Holdings Pty Ltd, will control 7.89% of Cassini.
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The company’s West Musgrave project is timed to capture rising demand for battery metals

Cassini Resources Ltd (ASX:CZI) has added a substantial shareholder to its register, with Atasa Holdings Pty Ltd now holding more than 27 million shares.

The shares were issued in two tranches of about 12.29 million and 14.85 million ordinary fully paid shares in late August and last Friday, respectively.

Total value of the holding comes to almost $1.79 million and represents a 7.86% interest in Cassini.

 

READ: Cassini Resources drills best ever nickel intersection at Nebo

Cassini is progressing the pre-feasibility study for the Nebo-Babel deposits, part of the West Musgrave project in Western Australia, with joint venture partner Oz Minerals Ltd (ASX:OZL).

The joint venture consists of a three-stage $36-million earn-in agreement.

West Musgrave is the largest undeveloped nickel-copper project in Australia with a resource of over 1 million tonnes of contained nickel and 2 million tonnes of contained copper.

The project has three existing nickel and copper sulphide deposits and a number of other prospective regional exploration targets identified.

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