NES (ASX) Ann: Trading Halt

Originally posted by SunO: ↑

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

12PMWSTThursday, 21 January 2021

3
Announcement of Placement / Trading Halt Lifted

Friday, 22 January 2021

4
Proposed Settlement Date (DVP facility)

Friday, 29 January 2021

5
Allotment of Shares

Monday, 1 February 2021

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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(20min delay)
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

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