DiscovEx Resources' Acquisition of Latitude 66 Cobalt Limited

DiscovEx Resources Limited (ASX: $DCX) has announced its intention to acquire all fully paid Ordinary shares in Latitude 66 Cobalt Limited, an unlisted Australian public company holding significant gold and cobalt assets in Finland. The acquisition includes Latitude 66's flagship project in the Kuusamo Schist Belt (KSB Project) and regional exploration projects in Northern Finland. The acquisition is expected to provide exposure to the growing critical raw material supply chain requirements in Europe. DCX intends to raise up to $4 million via a public offer of fully paid Ordinary shares, subject to shareholder approval. The proposed acquisition is seen as a significant step for DCX, providing exposure to an emerging critical minerals demand and a secure European-based supply of economic gold and cobalt production.

Executive Commentary on the Proposed Acquisition

The proposed acquisition of Latitude 66 Cobalt Limited's assets represents a strategic move for DiscovEx Resources Limited. It aligns with our goal of diversifying our growth strategy and tapping into the potential of emerging critical minerals demand in Europe. The acquisition is expected to bring together complementary projects located in Tier 1 mining jurisdictions, with significant value creation potential. We believe that this move will position us well to meet the evolving supply chain requirements for critical raw materials in the region.

Summary of the Proposed Acquisition and Outlook

DiscovEx Resources Limited's (ASX: $DCX) proposed acquisition of Latitude 66 Cobalt Limited's gold and cobalt assets in Finland marks a significant step towards expanding its presence in the critical minerals sector. The acquisition is expected to provide exposure to an emerging critical minerals demand and a secure European-based supply of economic gold and cobalt production. With the intention to raise up to $4 million via a public offer of fully paid Ordinary shares, subject to shareholder approval, DCX aims to strengthen its position in the European market. The proposed acquisition is anticipated to bring together complementary projects located in Tier 1 mining jurisdictions, offering significant value creation potential and supporting a diversified growth strategy. The company's ambitions to tap into the growing critical raw material supply chain requirements in Europe are reflected in this strategic move, positioning DCX for potential growth and value creation in the region.