Shaw and Partners has been appointed as Lead Manager to the proposed capital raising by Jervois Mining Ltd (ASX.JRV).

The Company is proposing to raise up to approximately $40.0m, via a two tranche Placement of up to approximately 131.1m new ordinary fully paid shares at $0.3050 per security.

• Tranche 1: Unconditional Placement of 125.4 million shares to raise $38.25m
• Tranche 2: Conditional Placement of 5.7 million shares (Directors / Insiders) to raise $1.75m

The Company reserves the right to accept oversubscriptions. In the event subscriptions are received in excess of $40.0 million, a portion of funds will settle within the Conditional Placement component, subject to shareholder approval.

The offer price of $0.3050 per security represents a 6.2% discount to last close of $0.3250, a 7.4% discount to 5-day VWAP of $0.3295 and a 1.2% discount to 10-day VWAP of $0.3086.

The offer is available to Australian Sophisticated and Professional Investors only.

For more information please contact your Shaw and Partners Adviser.

About Jervois Mining

Jervois Mining Limited is a battery metals development company with a cobalt-copper development mine in Idaho USA, a nickel cobalt refinery in São Paulo Brazil, a nickel-cobalt resource in New South Wales, Australia, and exploration in Uganda. Its flagship asset is the partially constructed Idaho Cobalt Operations which will produce concentrate to be refined at its recently acquired São Miguel Paulista refinery in Brazil.