Pela Global Limited (“Pela”) is an exciting, up and coming Australian, base and precious metals, junior explorer on the verge of transitioning to producer via strategic acquisition and is due to complete its maiden JORC-compliant MRE (mineral resource estimate) in Q2 2021 for its wholly-owned, Luke-KP concession (“LKP”), both situated on the richly mineralised Tethyan Belt in the Republic of North Macedonia (“RNM”).
In February 2021, Pela’s Managing Director Nik Jovanovski signed a terms-sheet giving Pela exclusivity in undertaking formal due diligence of the operational, Toranica and Zletovo Mining Complex (“TZMC”) composed of two polymetallic (lead, zinc & silver) mines located in north-eastern RNM. The mines were originally targeted by Pela as low-cost, profitable operations with significant reserve and production upside potential that also complement Pela’s LKP concession a mere thirty kilometres away. Importantly, Pela’s pre-due-diligence work has enabled it to secure debt financing from a tier-1 fund for the purchase of the mines subject to successful due diligence. With its position of exclusivity, its working knowledge of the mines, and major acquisition financing in place, Pela is confident of a successful accretive acquisition outcome by Q3 2021.
Pela’s LKP concession, also located in north-eastern RNM and bordering with Serbia, is considered by Pela as its potential ‘jewel in the crown’. LKP is an exciting greenfield exploration site, hosting six prospects and completed exploration work showing significant IP anomalies throughout the site, correlating with high-grade gold, zinc and lead assays from historical drilling and adit-drive sampling. LKP’s Samar prospect already hosts a small reserve under the Russian reserve system approved by the Macedonian authorities which Pela is seeking to increase and convert to a JORC-compliant MRE (mineral resource estimate) from its recently completed 4,300m drilling campaign. Most promising for Samar are gold assays indicating an MRE which could include a gold grade exceeding two grams per tonne.
In our view, Pela currently sits in an enviable position with LKP and TZMC representing the two pillars of its immediate business plan which it anticipates will serve as the catalysts for a planned market listing in 2021, and a well-deserved liquidity event for its loyal shareholders. For prospective shareholders, the resource potential of LKP, combined with the operational TZMC – where it is likely LKP’s ore could be processed resulting in significant capital expenditure savings – makes for a compelling business case. It appears 2021 could see Pela launch and execute the initial stages of its longer-term strategy as both its LKP MRE and the TZMC acquisition are completed by early 3Q 2021.
For those curious about Pela’s longer-term strategy, Pela’s business plan sets out an active acquisition program to grow shareholder value. In each instance, Pela aims to implement a strategy of asset stabilisation, optimisation and balanced expansion resulting in sustainable growth and significant shareholder value. Ultimately, Pela’s goal is to become a significant player in the world of base and precious metals mining.
About Pela Global Limited
Pela Global Limited (“Pela” or “the Company”) is an Australian-registered, public, unlisted company with core operations and regional expertise in developing and operating mining ventures in Eastern Europe. Pela holds the highly prospective, gold and polymetallic (lead, zinc, silver & copper), Luke-KP concession (LKP) located in the Republic of North Macedonia and has secured debt financing from a tier-1 debt provider to fund the acquisition of the proximate, operational, and polymetallic (lead, zinc & silver) Toranica & Zletovo Mining Complex (TZMC) subject to due diligence. Pela is exclusive in the sale and purchase of the TZMC.