Askari Metals (ASX:AS2) is extending new options to investors of the expired AS2O series, effective from October 31, 2024. These options allow conversion to shares at $0.022 each before December 31, 2028, mirroring terms from a previous placement in November 2024. The company intends to list these options, pending ASX approval. A prospectus has been filed with ASIC, and personalized applications were distributed starting May 19.
Executive Director Gino D’Anna stated the offer allows Askari to engage shareholders and encourage continued investment. Askari Metals is pursuing an African-focused strategy, currently conducting due diligence on an advanced gold exploration project in Ethiopia. Following a recent placement, the company is funded to capitalize on its African experience to enhance shareholder value.
Askari Metals, with a market capitalization of $3.63 million, is focused on developing battery metals like lithium across its African and Australian projects. Despite high electric vehicle market demand, lithium prices have recently declined, dropping 1.24% to $13,673 per tonne as of May 20, 2025, according to Trading Economics.
