The Prospectus is for an offer of 27.5m shares to raise $5.5m
Issue price $0.20
The IPO listing of MPG on ASX is planned for 2 March 2022
Undiluted enterprise value (EV) before costs ~$2.2m
The Company's mineral exploration assets to be held from admission consists of an 80% legal and beneficial interest in each of EPM 26317 and
EPM 27252 (being the Tenements), with a combined area of 464km2, located in central Queensland approximately 150 km south of Gladstone
and 150 km west of Bundaberg (refer to Figure 1).
The Company will retain an option to acquire the remaining 20% interest in the Tenements (being the Second Option) subject to conditions
precedent outlined in Section 8.1 of this Prospectus, including completion of approximately a further $2,200,000 in Exploration Expenditure
within a 24 month period following acquiring the initial 80% interest.
Tenements are primarilyprospective for gold and gold-copper. The main mineralisation models to be targeted are epithermal style mineralisation and related porphyry style mineralisation.
The Tenements also host base metal skarn mineralisation and several historic mines are located immediately to the north and northeast of the area.
Mt Weary Gold Project
located within the eastern extent of the Tenements and is comprised of multiple gold occurrences with the Boggy Creek Prospect central to the project area. The Mt Weary Gold Project hosts gold anomalism, along with several historical gold working along more than 3km extent targeted for further exploration including the Childs Prospect near the northern extent of the Mt Weary Gold Project. The Boggy Creek Prospect hosts drill ready targets generated from geophysical and geochemistry surveys completed in recent years identifying more than 1km of potential extensions to previously drilled gold mineralisation.
Rawlins Gold-Copper Project
early-stage exploration project located in the western extent of the tenements, approximately 20 kilometres west of the Mt Weary Gold Project. A number of prospects occur over an area of approximately 5 kilometres by 3 kilometres comprising the Rough Gully Prospect, Copper Knob Prospect, and Eastern Star Prospect
Monal Gold Project
located within the northern extent of tenement EPM 26317 and extends north into tenement EPM 27252. An extensive corridor of historical mines have exploited veins from adits on over 1km of strike extent in a historical area referred to as the Monal Goldfields. Located approximately 10 kilometres to the northeast of the Rawlins GoldCopper Project, and 18 kilometres northwest of the Mt Weary Gold Project.
