Update: Commitments in excess of the $5 million minimum offer size received.
The offer may close early and the 'Pay By' dates may change. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.
Lode Resources Ltd (ASX: LDR) is a copper, gold and silver exploration company with six projects holding 7 granted exploration licences with tenements in the New England Fold Belt of NSW covering 950km2. The criteria for these six projects are
All exploration licences are fully granted and owned by Lode Resources and considerable historical work delivers significant and encouraging geological data, providing an opportunity for discoveries.
The Company’s aim is to discover significant deposits of gold, silver and copper that can be commercially developed and mined.
Lode Resources is led by an experienced team of mining industry professionals that the Company believes will be effective in executing its objectives.
Lode Resources Limited is looking to undertake an IPO on ASX to raise between $5 million and $7.5 million via the issue of between 25 million to 37.5 million shares under the Offer at an offer price of $0.20. The company will have an indicative market capitalisation of approximately $18.38 million (at maximum raise) on completion of the offer.
Lode’s tenements lie within the southern part of the New England Fold Belt, also known at the New England Orogeny (NEO) which holds considerable potential for economic mineralisation, despite the fact that only one gold mine is currently operating in the region. The most significant mining period was from the 1850s up to World War 1.
Most recently the New England Fold Belt has experienced a massive resurgence in exploration interest. Just in the last year the area under exploration title has grown from 7,296 km2 to 17,322km2, an increase of 137%. Companies acquiring ground include a number from North America with the largest being Newmont Australia Pty Ltd (Newmont). Gold companies of this ilk typically target multi-million-ounce gold deposits. Lode has the advantage of being a front runner of this wave and has acquired exploration projects in the New England Fold Belt where much of the early work has already been completed. The Projects include:
Located 8km west of Uralla was one of the earlier goldfields discovered in NSW and a significant gold producer in the 1850s. Lode’s Uralla Gold project (EL8980 and EL9087) encompasses the entire goldfield and where two mineralisation styles are being targeted, that being high grade mineralised veins and high tonnage mineralisation associated with cupula structures. Previous work has discovered and delineated the former style of mineralisation in high-grade lodes that remain open and many targets including high grade surface samples, defined through preliminary surface work, were not followed up with drilling.
Historical drilling at the Martin’s Shaft prospect has resulted in a number of solid intercepts including 14.0m @ 4.83 g/t Au (incl. 3.0m @ 6.94 g/t Au) in drill hole SGRDD002 and 11.0m @ 5.38 g/t Au (incl. 6.0m @ 8.30 g/t Au) in drill hole SGRDD004. Surface sampling at the Hudson’s prospect has returned grades in the order of 8.03, 7.58, 6.38, 6.31, 5.29 and 5.06 g/t.
Uralla general geology and historical workings
Webbs Consol is a historical silver mining centre with high grade silver bearing lodes providing attractive targets that are essentially drill ready. Historical records of underground sampling indicated open ended high-grade mineralisation remains at relative shallow depths and subsequent geophysical anomalies were never followed-up by drilling Historical channel samples taken at main Webbs Consol mine indicate open ended high-grade mineralisation at 60m depth. 12 samples averaged 210g/t Ag, 22.6% Zn and 2.74% Pb.
Silver bearing galena mineralisation from Webbs Consol’s main shaft
This project has four known copper deposits of which the Trough Gully copper mine is a drill ready target. In addition, previous exploration surface work has delineated two significant copper anomalies presenting potential large tonnage targets. The Trough Gully and Fisher’s Copper workings have received particular attention, with Blayden, 2007a noting that the VHMS style deposits are favourably located within and to the west of the Peel-Manning Fault System (locally termed the Spring Creek Fault). The deposits vary greatly in size from small areas of copper carbonate staining up to deposits such as Trough Gully and Fischer’s Copper, from which 2,572t and 2,643t of ore, respectively, were produced (Blayden, 2007a). At the Trough Gully mine copper mineralisation open along strike & down dip. Historical sampling of working extremities resulted in 8 samples averaging 2.2% Cu, 1.2% Zn, 10 g/t Ag.
The project possesses a large 6km regional magnetic and IP anomaly with anomalous base/ precious metals in geochemical sampling. There has been very little exploration completed within EL9004 but the Elsinore Prospect remains untested despite coincident anomalous geochemical and geophysical responses. In Geos Mining’s opinion, this remains as the best target for drilling.
This project contains a large 2km long gold anomaly potentially associated with high level intrusions and/ or the surface representation of large and deep crustal structures. Radiometric imagery shows thorium signatures potentially indicating shallowly buried or just unroofed granites and/or areas of related alteration. Newmont has pegged ground with similar geology. Lode intends to initially carry out broad geochemical sampling.
This project covers a historical goldfield which is underexplored with only two drill holes of which one intercepted gold mineralisation but with no follow-up drilling. Historical gold production has been limited but the very high gold grades would have been attractive to historical miners. The lack of virtually any drilling presents an opportunity for Lode to test below the extent of the historical mining, which probably targeted supergene enrichment at the base of complete oxidation (BOCO). The potential for auriferous mineralisation hosted by quartz-sulphide veins below the BOCO is quite good along the interpreted structural corridor.
The Company’s vision is to create shareholder value through the exploration and development of high-quality gold, silver and copper deposits in the New England Fold Belt and is focussed on exploring its Tenements by using modern geophysical exploration methods and improved mineralisation targeting.
The Company’s strategy is to:
Lode Resources Ltd is led by an experienced team of mining industry professionals. These include:
Andrew Van Heyst (Executive Chairman) − Director from 18 November 2019
Mr Andrew Van Heyst has over 30 years’ experience in institutional equities and advisory. Mr Van Heyst previously worked at Merrill Lynch in New York as head of Australian sales and for ABN AMRO Bank N.V. as head of Australian sales and head of Americas Client Account Management for Global Equity product. In 2005 Andrew moved back to Australia joining Shaw and Partners Ltd as a corporate advisor focussing on small-cap resources. Mr Van Heyst is currently an executive director at Bridge Street Capital Partners Pty Ltd.
Edward Leschke (Managing Director) − Director from 18 November 2019
Mr Edward Jan Leschke has over 30 years’ experience in the resources industry. Mr Leschke was formerly the managing director of an ASX listed mining company, Equus Mining Limited (ASX: EQE), overseeing areas such as start-up process, project identification, acquisition and generation, geological mapping, exploration drilling, local community and government liaison, financial management, strategy setting, fund raisings, ASX listing and statutory reporting. Mr Leschke previously also worked as a resources analyst in stockbroking and funds management companies as well as a geologist in the mining industry.
Keith Mayes (Non-Exec Director) − Director from 10 March 2020
Mr Keith Mayes has over 30 years’ experience in the resources sector in exploration, business development, operational and financial roles with major mining companies including North Ltd, Newmont, Rio Tinto Limited and Oxiana Ltd in Australia, Europe, the Middle East and Africa. Mr Mayes is currently general manager of Australian Garnet Pty Ltd, a subsidiary of Resource Development Group Ltd, and formerly chief operating officer at ASX listed KGL Resources Ltd ASX: KGL) that is undertaking exploration and development of the large Jervois copper/silver/gold project in central Australia and chief operating officer at Altura Mining Ltd where he discovered the world class Pilgangoora lithium deposit.
Jason Beckton (Non-Exec Director) − Director from 29 September 2020
Mr Jason Beckton has over 25 years of geological corporate experience in Australia, North and South America, China and Albania. Mr Beckton was project manager for Bolnisi Gold NL’s Palmarejo silver/gold project in Mexico, managing a program that defined 3.1 moz AuEq. He managed the discovery of Canadian company Exeter Resource Corporation’s 30 moz AuEq Caspiche Porphyry Prospect in the Maricunga Gold Copper Belt of Chile. He was managing director of formerly ASX listed Chinalco Yunnan Copper Resources Limited, which explored copper districts in Mt Isa, Lao and Chili. Mr Beckton was formerly on the advisory board of exploration private equity investor EPG Partners S.A. in Chile.
Mitchell Tarrant (Project Manager)
Mr Mitchell Tarrant has over 12 years’ experience in the resources sector working as a geologist in both exploration and mining roles with companies including Red River Resources, Hillgrove Mines and Crocodile Gold. His most recent role prior to joining the Company was at the Hillgrove Mine where he held the statutory position of mining engineering manager. Mr Tarrant also managed Hillgrove’s 51 tenements and worked on various exploration activities from geological mapping to managing drilling campaigns.
Funds raised from the Offer will be applied as follows:
You are encouraged to read the Prospectus carefully as it contains detailed information about the Company and the Offer. Like all investments, an investment in the Company carries risk. As set out in Section 5 of the prospectus, Lode Resources Limited is subject to a range of risks, including but not limited to exploration and evaluation risks, no history of production, environmental risks, Tenements, changes to commodity prices, land access and reliance on key personnel.
Section 734(6) disclosure: The issuer of the securities is Lode Resources Ltd ACN 637 512 415. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).
OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.
Polymetals Resources Ltd (ASX: POL) owns two exploration licences within the Siguiri Basin in Guinea, West Africa. The Siguiri Basin occupies the north-eastern corner of Guinea and hosts several large active gold mining operations and is notable for its widespread gold anomalism. The region is considered prospective and relatively immature from an exploration perspective and produces over 500,000 oz of gold/year. The nearby AngloGold Ashanti Siguiri Gold Mine, has produced more than six (6) million ounces over its 20-year life.
The licence area is host to many historic and current small scale gold mining operations. The results of inititial soil sampling confirmed that 18 km2 or 16% of the area surveyed reported gold values in excess of 40ppb Au.
Update: Commitments in excess of the $5 million min offer size received
Lode Resources Ltd (ASX: LDR) is a copper, gold and silver exploration company with 6 projects and 7 granted exploration licences with tenements covering 950km2 in the New England Fold Belt of NSW. Each of the 6 projects are 100% owned and have demonstrated a high grade mineralisation and/or potential for large mineral occurrences. The strategy is to target large-scale gold, silver and copper mineral systems using modern geophysical exploration methods and advance discoveries to the development stage.
All exploration licences are fully granted and owned by Lode Resources. Considerable historical work has delivered significant and encouraging geological data, providing an opportunity for discoveries.
The COVID-19 pandemic has caused a wave of discounted capital raisings with ~$53 billion of discounted new shares issued in the last 12 months.
Share Purchase Plans (SPPs) allow individual shareholders to apply for up to $30,000 in shares at the same discounted price paid by institutions. In the 12 months to 31 December, in-the-money SPPs were issued at an average 10% discount to the ASX closing price on the SPP closing date. But, you must be a shareholder before the SPP is announced.
SPP HarvesterTM gives you access to SPPs by buying you 1-share in 300 of the largest, liquid, operating companies listed on ASX. It will identify and apply for in-the-money SPPs and automatically sell the new securities, efficiently recycling your capital into the next SPP. This automatically harvests the discount for SPPs, with minimum capital outlay, low establishment costs and minimal administration.
goPassport is a unique and highly relevant travel risk SaaS platform in the new Travel/Health Tech space. The business started at the outset of Covid in March 2020 and has since built out a powerful, complex but user friendly & scalable software following the successful crowd sourced equity raise of $0.8m.
Having engaged deeply with key levels of state & federal government, travel industry, health authorities and border protection agencies, goPassport is now well placed to play a vital role in the reopening of borders and the recommencement of the international travel industry.
This offer is restricted to professional, sophisticated, and experienced investors. More info here.
People spend big on wellness (it accounts for 5.3% of global economic output). But, 80% of consumers find the market is full of conflicting data, making this spend haphazard. Solving this problem is the emerging wellness genomics sector - a high-growth market (13.2% CAGR), predicted to hit US$9 billion by 2026.
Meet Fitgenes. With a range of wellness focus areas, Fitgenes’ genomic products cut through the clutter - delivering wellness plans tailored to the specific requirements of an individual. But it is the distribution network and strategy that sets this growing heath-tech business apart.
Before investing please consider the offer document and the general risk warning.
Want to learn a TikTok move? ….sure, but first ...what’s 7 x 8? Want to post to Instagram? Go for it .. but first ….. What’s the square root of 6,384 (just kidding but you get the idea).
1Question is an app that leverages existing screen habits to create micro learning moments. Lots of them. Every. Single. Day. Advanced AI understands the student’s strengths and weaknesses and customizes questions to accelerate learning.
1Question is backed by the Google accelerator program for User Acquisition. They are a company that is born global with a first mover advantage and a gigantic total addressable market.
ATO approved ESIC status delivering substantial investor tax benefits.
Before investing please consider the offer document and the general risk warning.
GigSuper is addressing the $150b gap in the market for super for the self-employed. Self-employed Australians don’t have the luxury of an employer making super contributions for them, and often struggle with retirement. GigSuper’s answer to this is an easy to use platform that automates voluntary super contributions for its members.
Unlike Big Super, GigSuper attracts younger members, with a lifetime of saving ahead of them – more money coming in than going out.
Before investing please consider the offer document and the general risk warning.
Offer closed via OnMarket due to overwhelming demand. Please ensure successful applications are funded ASAP to avoid missing out.
FOS Capital Ltd (ASX: FOS) is an established and innovative Australian lighting company providing design, engineering and manufacturing services to the commercial, retail and industrial lighting sectors. FOS is one of a few Australian lighting suppliers with full manufacturing capability in Australia allowing shorter lead times and greater customisation abilities.
The Company is focussed on growth, both organically and through the acquisition complementary businesses that have synergies with current operations.
OnMarket has released the 5th Annual IPO Report discussing the Australian IPO activity for 2020 and what can be expected for the Australia IPO Market for 2021.
IPOs have yet again outperformed the market with an average 1-month return of 27.9% and an impressive 46.9% return at year end.
Will 2021 be another standout year?