|| Securities, Unissued Securities
|| Asking Price
|| AUD $6M equity capital raise @ A$0.12 per share with 1 free attaching option for every 2 shares issued (pre-money capitalisation A$24.1M)
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This Australian unlisted public company has two principal assets:
- A high-grade magnetite iron ore deposit (100% owned) in South Australia likely to sell its products at premium prices; plus
- A significant (largest) shareholder (18%) in an ASX listed gold producer and explorer.
Detailed due diligence and the application of new technology and expertise has demonstrated that both projects have the potential to grow the Company significantly.
The Company’s tenement package is situated within close proximity to other notable iron ore and gold projects including BHP’s world class Olympic Dam,
Oz Minerals Prominent Hill, Peculiar Knob, Hawks Nest prospect and Tarcoola.
Over A$4.8M expended to date on projects (South Australia A$3.8M) and investments (A$1M).
Use of Fund
- Secure and accelerate the Scoping Study and commencement with PFS for the Magnetite Iron Ore Project
- Protect and enhance returns and cash generated from the ASX listed company investment
- Continue to seek suitable growth and diversification projects
- Fund ongoing corporate activity, running and management expenses and working capital
- Prepare for possible IPO Q4 2018
A dynamic new internationally experienced full time MD and a well-respected board with proven track record of delivery and extensive experience in
the resources and the financial services industries and have their interests directly aligned with those of the shareholders.
Plan to IPO in Q4 2018
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