TORRENS MINING LIMITED IPO Analysis

From Prospectus , Media articles and company presentations

IPO price $0.20 per
Existing shares 63.5 Million
Cash $10 million
SOI 113.5 million
Mcap $22.7 million
EV $3 million (after accounting for the indicative valuation of the Torrens’ 25% interest in the Elizabeth Creek Copper-Cobalt IOCG Project in SA, under farm-in with ASX listed Coda Minerals (COD) $10m)

High value, advanced projects:




Mt Piper Central Victorian Gold
Major footprint in exciting Fosterville region

Drilling evidence of Fosterville-style mineralisation

BHP (1980s): 48m @ 0.9g/t Au from 184m, incl. 7m @ 1.4g/t Au

Perseverance (1990s): 2m @ 3.65 g/t Au from 22m

Advanced Northwood Gold Prospect

Geochemical gold targets identified


Club Terrace Eastern Victorian Gold
Gold targets on major fault structure

Elizabeth Creek Project, South Australia
Copper-cobalt in strategic Olympic Copper Province
Coda Minerals Limited farming-in (~$5.5M to date)

Laloki Project, Papua New Guinea

VMS style - high-grade copper & gold


Fosterville-style Gold Targets

Fosterville-style exploration in Central Victorian Goldfields

30km SE of Kirkland Lake’s Fosterville Gold Mine

Established Au-Sb targets

BHP & Perseverance drilling intersected gold mineralisation
Accessible farm lands

Victorian Gold – Club Terrace
Fault-controlled Gold Region in South Lachlan

Au-Pb-Cu-Zn geochemical targets

Historical gold mines

Historical lead (Pb) project

Fault-controlled “orogenic” system

Neglected exploration region

Accessible State Forest






Elizabeth Creek Project

Copper-Cobalt & IOCG

Advanced Cu-Co & IOCG Cu-Au in South Australia

Major Exploration Target 46-76Mt Cu-Co at Emmie Bluff

159,000t copper & 9,400t cobalt in shallow

Mineral Resources at MG14 & Windabout

Funded under farmin with Coda Minerals Limited

Coda earning up to 70%
Coda may purchase 5% for $1.5M cash

Indicative valuation of the Torrens’ 25% interest in the Elizabeth Creek Copper-Cobalt IOCG Project in SA, under farm-in with ASX listed Coda Minerals (COD) is $10 Million

Conclusion :

Looking at all other Victorian peers , IMO TRN should initially trade around 28c to 32c. And with any good news regarding drilling of Victorian assets or drilling results from COD , It can easily trade around 50c to 60c .

This is my best Guess , tbh I really do not know how any stocks will trade in short term as I am not a day trader / pip trader

But in a medium to long term , Torrens has all the ingredients to become a solid Junior resource company




ALL IMO

DYOR

GLTAH

Bhavdip