Ilala Metals Limited (“Ilala Metals” or “the Company”) is pleased to advise it has lodged a Prospectus for its Initial Public Offer (“IPO”) with the Australian Securities and Investment Commission (“ASIC”).

Ilala Metals is specialising in uranium and copper exploration in Botswana and Namibia, two of Africa’s premier mining destinations.

Ilala is well-positioned to capitalise on rising uranium and copper markets with a 100% stake in two flagship assets: the Serule Uranium Project and Central Copper Project.

The IPO is to list the Company on the Australian Securities Exchange (ASX) and issue up to 40,000,000 shares at an issue price of $0.20 per share to raise up to $8,000,000 (maximum subscription) with a minimum subscription of 25,000,000 shares at an issue price of $0.20 per share to raise $5,000,000 (minimum subscription) (offer).

Applicants to the offer will also receive a free attaching option on a 1-for-3 basis, with each option exercisable at $0.30 and expiring two years from the date of issue (attaching options).

BW Equities is Lead Manager to the IPO.

Following completion of the IPO, the Company intends to continue exploration and development of the Serule Uranium Project as it works towards delivering an inaugural resource in 1H 2025 and further advance exploration at the Central Copper Project in Africa’s Kalahari Copper Belt (KCB).