11 St George Mining Limited Annual Report 2024 CORPORATE – Global Battery Investors Back St George November 2023 capital raising backed by Jayson: On 9 November 2023, St George announced that Shanghai Jayson New Energy Materials Co., Ltd (Jayson) had agreed to acquire 78,947,368 fully paid ordinary shares in St George at an issue price $0.038 per share for a total investment of $3 million. This deal builds on Jayson’s initial investment in St George almost a year ago and strengthens the strategic corporate relationship between our companies, with Jayson’s shareholding in St George increasing to 11.73%. Jayson has established itself as the world’s leading producer of cathode precursor materials for lithium-ion batteries with operations in four countries. In addition to precursor manufacturing operations, Jayson has substantial mining, smelting and processing units for copper, cobalt and nickel. It has also developed technology for recycling lithium-ion batteries. Jayson’s market-leading credentials in new energy materials make it an attractive strategic partner for St George as we continue to rapidly grow our opportunities in lithium and other battery metals. Contemporaneously with the Jayson investment, St George also received commitments from sophisticated investors for the placement of an additional 52,631,578 fully paid ordinary shares in St George at $0.038 per share to raise a further $2 million. The placement to Jayson and sophisticated investors was completed during November. ATL investment in Lithium Star: During October 2023, ATL acquired a 10% equity stake in Lithium Star Pty Ltd with St George retaining the remaining 90%. ATL subscribed to 3,000,000 ordinary shares in Lithium Star for a total subscription price of $3 million. For further details of ATL’s investment in Lithium Star, see our ASX Release dated 17 October 2023 “Investment by World Leader in Lithium-Ion Batteries”. Board of directors: Mr Kecheng Cai, formerly the Head of Investment & Strategy for Jayson, joined the Board as a Non-executive Director with effect from 1 January 2024. Mr Cai left his position with Jayson during the year and resigned from the Board on 6 August 2024.
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