Quality guys behind it and very low ev... back in the trainer in this one
Company Snapshot (Post Raise)
Shares on Issue: 30,238,584
Options: 12,000,000 @ 25c (48 months)
Price: 20c
Cash: 4.1M
Market Cap @ 20c ~$6M (undiluted)
EV: ~$1.9M (undiluted)
-TNT is seeking to raise $5.5 million through the issue of ~27.5 million ordinary fully paid shares at an issue price of $0.20 per share in conjunction with the quotation of the Company's securities on the ASX (“IPO” or “Offer”).
-Patersons Securities Limited (“Patersons”) has been appointed Lead Manager to the IPO.
-Cornerstone investor
-Same team that created and still runs Sky & Space Global (ASX: SAS).
Company Summary
-TNT was established to explore for tin and tungsten in Tasmania, and in excess of $1.7m has been spent on its tenements to date.
-In 2013, TNT was partially taken over by Niuminco Group Limted (“NIU”) which acquired 72.10% of its shares.
-TNT has continued to explore its projects in Tasmania, obtaining JORC
-Inferred Mineral Resources on both its Great Pyramid (5,200,000t @ 0.2%Sn for 10,400t contained Sn) and Aberfoyle (800,000t @0.33% Sn for 2,640t) contained Sn tenements and recently conducting a drilling program at Aberfoyle in Q1 2017 (together the “Projects”).
Management
Brett Mitchell – Non-Executive Director
Mr Mitchell is a corporate finance executive with over 25 years of experience primarily in the finance, capital markets and resources industries. He has been involved in the founding, financing and management of early stage resources and technology companies and currently holds executive roles on Sky and Space Global Ltd (ASX:SAS) and MGC Pharmaceuticals Ltd (ASX:MXC). Mr Mitchell holds a Bachelor of Economics from the university of Western Australia and is also a member of the Australian Institute of Company Directors (AICD).
Mr Michael Jardine - Non-Executive Director
Mr Jardine has extensive finance and investment experience across a number of sectors, in both Australia and the UK. Having acted in both Executive and Board roles for a number of ASX listed resource companies, Mr Jardine has particular expertise in business development, strategic planning and capital management. Mr Jardine is also currently a Director of ASX listed Atrum Coal Limited (ASX:ATU), and was formerly a Director of Pegasus Metals Limited (ASXUN).
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