The key project was acquired in 2014 and has privately run and self-funded the development program generating $5m in gross revenue in FY16 through the stage 1 mining exercise at the Mixy Project.
The Key Investment Highlights include;
- Strategic project in expanding Murchison region - The project contains a current JORC 2012 resource of approximately 107,000 ounces over 45km of prospective strike
- Revenue producing potential with non-binding agreement executed with Minjar Gold Pty Limited
- Exploration upside with aggressive drilling program to commence in Q1 2017
- Experienced board and management
Four additional exploration prospects have been identified where further exploration work is justified with the aim of defining further mineral resources with exploration to commence during Q1 2017.
Capital raised will fund drilling to test the high grade advanced exploration targets, upgrade the current gold resource to a higher level of confidence, followed by a feasibility study for an expanded open pit mine at Mixy.
|Shares currently on issue||58,227,439|
|New IPO Shares (20 cents)||25,000,000|
|Total Post IPO shares||83,227,439|
|Market Cap (at $0.20)||$21.6 million|