#Australia #Perth #Antimony Mine #PELA Global #North Macedonia

Pela Global Limited Secures Significant Funding for Mining Project

Pela Global Limited, an Australian company recognized for its commitment to ethical mining practices, has successfully concluded a Project Development Funding Agreement worth $5 million with the U.S. International Development Finance Corporation (DFC). This milestone was reached after a comprehensive and rigorous application and approval process, marking a key advancement in the company's operations.

The funding will play a crucial role in propelling Pela’s flagship Krstov Dol Antimony Mine Restart Project (KDM) in North Macedonia. This project is part of Pela's broader strategy to establish itself as a vital provider of critical minerals for allied markets. The financial support from the DFC aims to facilitate various essential development activities at KDM, including:

• - Preparation of a Mineral Resource Estimate: The expectation is to achieve compliance with the JORC Code, an internationally recognized reporting standard.
• - Environmental and Social Impact Assessment (ESIA): Vital for ensuring that the project adheres to sustainable practices and community engagement.
• - Progressing toward feasibility: Critical steps towards making the project operationally viable.

PELA's KDM project is built on a foundation of historical mining activities and a wealth of geological and technical data. Historical analyses have provided substantial mineral resource and reserve estimates, which were previously reported under the former Yugoslav system. This background adds a layer of confidence to the current endeavor.

About Pela Global Limited

Pela Global Limited is dedicated to the responsible development of mineral resources across the Tethyan Metallogenic Belt in Southeastern Europe. Its key projects include:

• - Krstov Dol Antimony Project (North Macedonia): An advanced-stage initiative designed to produce high-grade antimony concentrate, strategically positioned to meet the critical minerals supply demands of Western markets.
• - Samar Gold Project (North Macedonia): This high-grade polymetallic system contains confirmed mineralization of gold, silver, lead, zinc, and copper, presenting robust exploration and development opportunities.

The board of PELA is currently evaluating the potential for an initial public offering (IPO) of its shares, which would aim to gain admission to an Australian securities exchange. Should the board proceed with this initiative, a prospectus containing detailed information about the IPO will be made available.

While no guarantees can be made regarding the IPO's completion, PELA commits to keeping shareholders and the public informed through its website and other communications.

This latest funding agreement underscores Pela Global Limited’s determination to tap into the rich mineral assets of North Macedonia while aligning with sustainable and responsible mining practices. The company looks poised for further advances in its operations, contributing significantly to the region's economy and mineral supply chain.

For ongoing updates, interested persons are encouraged to visit www.pelaglobal.com.