Company Snapshot
Shares on Issue: 114,802,142
Options: 44,959,868
Current Price: 8.1c
Cash: ~ $ 0.55M
Market Cap: @ 7.5c ~$8.61M (undiluted)
EV: ~$8.06M (undiluted)
Investment Highlights:
- Attractively priced with $8M EV.
- Shell value with little price attributed to the enormous and highly prospective land package -Hunting for the next Tropicana.
- Takeover target.ASX listed PGM recently gone substantial and flagging change in corporate strategy to “Going for Gold”.
- Company owned RC & Diamond Rigs. Significantly reducing operating costs and lead times in a tight market.
- Encouraging historical results, including1m @ 142 g/t Au and 192m @ 0.5 g/t Au drilled by NES in 2018.
- Plan to drill 12,000m; consistent/monthly news flow
Please have firm bids in by2pm AWST today
- The Company seeks to raise A$1.5 million through the issue of circa 20 million new fully paid ordinary shares in the Company at A$0.075 per share, with the ability to accept oversubscriptions up to approximately $0.65m.
- 7.4% discount to last traded price of 8.1c; 11.6% discount to 5-day VWAP; 20.3% discount to 10-day; and 20.1% discount to 15-day.
- The Placement will take place in a single tranche and will fall within the Company’s placement capacity available for issue
Company Overview
- Nelson Resources Ltd (ASX:NES) is an ASX-listed gold exploration company with a portfolio of 956km² of wholly owned gold projects located in Western Australia.
- Nelson’s flagship project is the 828 km2 Woodline Project which is located at the boundary between the Proterozoic Albany-Fraser Orogen and the Archean Yilgarn-Craton.
- Woodline has:
- Four large scale gold targets identified with $14 million worth of exploration expenditure spent by the Company, Sipa Resources, Newmont & MRG
- 45km of the Cundeelee Fault
- 20km long gold geochemical / bedrock anomalyin the same structural setting as Tropicana
- 30km of currently unexplored greenstone within the Norseman – Wiluna Greenstone belt
- Three major fault lines that all host significant gold projects confluence within the tenure
- The Socrates project with excellent results in recent drilling
- Significant exploration close to the tenure by FMG, Silverlake, and others.
Woodline Project
Grindall-Redmill-Harvey
- Systematic exploration was carried out for Tropicana style mineralization by Sipa Resources and Newmont between 2006 and 2012. The work resulted in identification of a gold surface anomaly that extends over a strike length of more than 20km.
- Reported results included:
- TFC010: 10m @ 1.29g/t Au from 64m, including 1m @ 7.80g/t Au from 71m
- HRC001: 1m @ 9.14g/t Au from 93m
Socrates
- Located approximately 100km East-South-East of the 10MOz+ St Ives Gold Mine; covering 12sqkm.
- Notable intercepts:
- 1m @ 142 g/t Au
- 192m @ 0.5 g/t Au
- 8m @ 3.53 g/t Au
- 25m @ 2.06 g/t Au
Tempest
- Adjacent to the Independence Group (IGO) / Rumble Resources (RTR) Thunderstorm Joint Venture.
- IGO has been conducting an aggressive exploration program throughout this region which is amongst other minerals prospective for Ni-Cu-Co and Au.
- NES’ 105 km² Tempest project is on the Eastern boundary of the Thunderstorm project. Recent drilling by IGO included Aircore (AC) results of 25m @2.42g/t Au at the Themis Prospect and 4m @ 3.8g/t Au at the Pion Prospect.
Timetable
Trading Halt
Wednesday, 20 January 2021
1 Firm Bids Due
2PMWST Wednesday, 20 January 2021
2 Confirmation Forms Due
3 Announcement of Placement / Trading Halt Lifted
4 Proposed Settlement Date (DVP facility)
5 Allotment of Shares
Please see attached a copy of the latest presentation.
If you are interested in bidding for some of the NES placement please contact myself or Joel.
Best Regards
Joel Ridley|Managing Director
MERCHANT CAPITAL PARTNERS PTY LTD
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $1.840M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.3¢ | $1.2K | 400K |
Buyers (Bids)
No. | Vol. | Price($) |
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14 | 22332608 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.3¢ | 9566715 | 11 |
View Market Depth
No. | Vol. | Price($) |
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14 | 22332608 | 0.002 |
12 | 39035050 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.003 | 9566715 | 11 |
0.004 | 3615993 | 11 |
0.005 | 6000482 | 6 |
0.006 | 2838351 | 4 |
0.007 | 2375882 | 4 |
Last trade - 13.25pm 29/08/2024 (20 minute delay) ? |
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