Just came out. Anyone taking this one? -------------------------...

Just came out. Anyone taking this one?
-------------------------
Issue Size

• $5,000,000 - $6,000,000 @ 20c per share

Loyalty Option

• After 3 months, 1-for-2 @ 30c within 2 years

Capital Structure

• Shares on Issue: 29.8M
• Lead Manager Shares: 0.375M
• IPO Shares: 25-30m
• Total Shares: 55.2-60.2M
• Market Cap: $11-12m
• EV: $6m
• Existing Options 5M (30c), 5M (40c)

Investment Highlights

• Dundas holds 4 granted Exploration Licenses and 7 applications covering an area of more than 1,100km2 in the richly endowed southern Albany-Fraser Orogen, Western Australia.
• Highly prospective for nickel, gold, copper and rare earths
• ~120kms south of the Nova/Bollinger Nickel Mine (Independence Group)
• Considerable historical work (pre-2012) with significant, valuable and encouraging geological data.
  • No dedicated nickel exploration ever conducted. Prior exploration was pre-Nova discovery (2012) and predominantly gold focussed.
  • 6 under drilled prospects – no drill holes deeper than 50m (most 20m-30m). See slide 13 for summary.
  • Significant historical geophysics and/or geochemistry.
  • Potential for large mineral occurrences clearly apparent.

Use of Proceeds

• Exploration and drilling expenditure
• Expenses of the Offer, administration costs, working capital.

• The Company’s aim is to discover commercially viable deposits that can be profitably developed and mined.
• 100% ownership of all tenements.
• No sovereign risk
• Experienced management team
• Heritage Protection Agreements signed with all Native Title holder groups.  
• Exploration has already commenced
  • SkyTEM electro-magnetic survey completed in August 2021.

o   Gravity survey of entire tenement package commenced 12 September 2021.