Bindi Metals Targets High-Grade Gold with 80% Ravni Project Acquisition

Strategic Acquisition in a Proven Mining District

Bindi Metals Limited (ASX – BIM) has taken a significant step to expand its portfolio with a binding agreement to acquire up to an 80% interest in the Ravni gold project, a recently granted 30.5 square kilometre exploration licence in southern Serbia. Located within the historic and highly prospective Raska mining district, the project lies just 30 kilometres north of the Tier 1 Rogozna copper-gold deposit, positioning Bindi near some of Eastern Europe’s most notable mineral resources.

The Ravni project area is part of the Western Tethyan Magmatic Belt, a geological corridor renowned for hosting world-class gold and base metal deposits. This acquisition aligns Bindi with a region that has attracted substantial corporate activity, including Dundee Precious Metals’ billion-dollar acquisition of Adriatic Metals and Zijin Mining’s investment in nearby projects.

Promising High-Grade Gold Mineralisation

Historical exploration at the Ravni project, particularly at the Ceovishte prospect, has revealed impressive high-grade gold mineralisation. Surface trenching returned results such as 5 metres at 15.0 grams per tonne gold, including a standout 1 metre at 35.2 grams per tonne. Adit sampling and rock chip assays have also reported significant gold grades, with some samples exceeding 60 grams per tonne.

The geological setting suggests epithermal vein-hosted gold mineralisation with classic high-sulphidation textures, supported by extensive historic workings and outcropping veins over a 500-metre strike length. Additionally, multiple porphyry copper-gold and epithermal style targets have been identified within the licence area, broadening the exploration potential beyond gold alone.

Exploration Plans and Capital Raising

Bindi plans to undertake a comprehensive exploration program starting with surface geochemistry sampling and induced polarization (IP) geophysical surveys this quarter to refine drill targets. The company aims to execute a maiden drilling campaign following these surveys, targeting the high-priority Ceovishte prospect and other regional anomalies.

To fund these activities, Bindi is raising $2.5 million through a two-tranche placement managed by CPS Capital Group, supplemented by a non-renounceable entitlement offer of options to existing shareholders. The capital raising will support exploration at both the Ravni and Lisa projects, as well as general working capital needs.

Earn-In Agreement and Joint Venture Structure

The acquisition agreement grants Bindi an initial 20% interest in the Ravni project for a combination of cash and shares, with the option to earn up to 80% by meeting staged exploration expenditure commitments over the next five years. The earn-in includes a minimum 4,000 metres of diamond drilling and geophysical surveys in the first 24 months, followed by a further 6,500 metres of drilling in the subsequent 36 months.

Following the earn-in, the vendor may convert its remaining interest into a net smelter return royalty, with Bindi retaining a buy-back right. This structure balances risk and reward, allowing Bindi to advance the project while managing capital exposure.

Positioning for Growth in Serbia’s Mining Sector

Bindi Metals’ chairman Eddie King highlighted the strategic importance of the acquisition, noting the project’s exceptional exploration upside and proximity to significant deposits. The company’s methodical approach to exploration, combined with its focus on tier-one jurisdictions, aims to unlock value for shareholders and establish a strong foothold in Serbia’s burgeoning mining landscape.

With exploration results still prospective and drilling yet to commence, the market will be watching closely as Bindi advances its plans in this promising district.