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Ashby Mining Limited

Capitalising on a Processing Plant and Gold Assets in mineral rich Queensland region

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INDUSTRY

Mining

RAISING

A$3M

PRE-MONEY VALUATION

A$55M

MINIMUM INVESTMENT

A$25,000

Investment Highlights

Company Overview

Transaction Overview

Team

Transaction Summary
Ashby Mining Limited

Raising A$3M

Pre-IPO

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Investment Highlights

Focus on developing a gold production business in the premium geological location of Charters Towers QLD

Secured rights to a gold processing plant and a portfolio of tenements containing historical mines, mineral resources and highly prospective exploration potential

Strong board and operations leadership with top tier resources business experience and expertise to execute on plan

Pre-IPO opportunity with prospectus lodged and approved, expected to list on the ASX in October 2023

IPO raising minimum A$12.5M and maximum A$15M. Offer is underwritten to A$10M by CLSA Australia, Lead Manager for the IPO

Company Overview

Premium Gold Producing Geological Location

High Growth Potential

Multiple Under-Explored Brownfield Open Pit Mines

Existing Infrastructure and Historical Mining – known gold mineralisation and metallurgy

Ashby Mining is an aspiring Australian mineral resources company developing a gold production business in the Charters Towers region in Northern Queensland.

The Company has secured rights to a land package covering over 600km2 which contains historical mines, mineral resources, highly prospective exploration potential and a gold processing plant, with plans to commence gold production.

Our Vision

Ashby aims to be a mining company that creates long-term value for shareholders through the development of a multi-generational growth company in a world class gold mining district.

Target production is 40-60k ounces of gold per annum within 5 years using a centralised treatment facility at the Blackjack processing plant.

Responsible Mining

Ashby believes a strong ESG proposition is not only critical to business strategy, but when executed properly creates value directly linked to cash flow.

A leadership team that is passionate about building a modern environmentally responsible and technology enabled business. By adhering to strong ESG principles the business can deliver on its priority outcomes.

Projects

Black Jack Gold Processing Facility

A fully permitted gold processing plant located 8 km from Charters Towers.

Potential to process up to 340,000 tonnes of mill feed per year.

The project also contains historic open pit and underground gold mines and Mining Leases.

Far Fanning Gold Project

Far Fanning is a permitted Mining Lease where historic underground and open pit mining halted in 2004.

The core focus of this project is the Far Fanning gold mine and Mining Lease.

The project is located 45 km NE of Charters Towers.

Historical production at the mine was 47,200 ounces gold from 664,000 tonnes of ore at average 2.2 g/t gold.

Inferred JORC resource of 2.33Mt at 1.8g/t Au for 138,000 ounces gold.

Hadleigh Castle Gold Project

Hadleigh Castle is a permitted Mining Lease where historic underground and open pit mining halted in 2005.

The core focus of the project comprises the historical open pit gold mine and a prospective exploration target.

The project also encompasses a significant expanse of the “Rishton Mine Corridor”, a largely under explored major regional trend that is host to numerous known gold deposits and historical mines.

Inferred JORC resource for near-surface and underground of 2.4 Mt at 3.2 g/t Au for 247,000 ounces of gold.

Notable Investors

Nebari Gold Fund

TransAsia Private Capital

RIVI Opportunity Fund

Collins St Convertible Notes Fund, managed by Collins St Asset Management

Transaction Overview

Short-term converting loan of up to A$3.0M, automatically converting into shares and options in the IPO.

  • Maximum term of 26 weeks if not converted prior to the maturity date
  • Interest 12% pa, accrued until IPO (converts to shares at IPO)
  • A once-off payment in shares equal to 20% of the principal loan amount provided. Share payment is issued contemporaneously with conversion into the IPO
  • Free listed options on a 1 option for every 2 shares basis

Offer is covered by general underwriting, however the underwriter is not obliged to release funds until acceptance to the Offical List. The Company has the right to introduce investors to sub-underwriters, which subscription funds are to be made immediately available by the Underwriter. The Company is looking to bring forward access to the Offer funding.

ASX Listing

Ashby Mining will be raising A$12.5M-A$15M through an IPO with the minimum A$12.5M secured through combination of a A$2.5M firm bid plus A$10M in underwriting, including $A2.5M from Board and Management.

Use of funds

15%

IPO Costs including initial listing fees

12%

New Switchboard for Black Jack Mill

52%

Enviromental bond for Far Fanning

21%

Working Capital / Loan Payments

Team

  • Management

  • Directors

Jason Keily

Chief Executive Officer

Nick Harding

Company Secretary

Marty Noakes

Processing Facility Project Manager

Georg Radeck

Far Fanning Project Manager

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