- Raise a minimum of A$7 million (A$10m maximum)
- 35 million new fully paid ordinary shares (50m at max).
Flynn is exploring for gold in two emerging gold camps with potential for large scale discoveries in north east Tasmania and the Pilbara, WA.
WHAT WE LIKE ABOUT FLYNN:
Valuation: ~$9m Enterprise Value is compelling given quality and location of portfolio compared to peers.
Assets: 100% owned projects in two gold camps host to multi-million ounce deposits. Flynn holds 1,134km² in NE Tasmania and 448km² in the Pilbara WA.
Location: Tasmania is a tier 1 jurisdiction and Flynn is an early-mover in a re-emerging field, targeting bulk tonnage IRGD gold deposits, and Fosterville-style orogenic Au analogous to the Victorian Goldfields. The Western Australian Pilbara assets are adjacent to DEG’s Hemi discovery.
News Flow: Pre-IPO drilling results due soon after listing as well as drilling to commence imminently in Tasmania.
Team: Highly experienced technical team with a strong track record of exploration success.
OFFER DETAILS
Column 1
Column 2
0
Key Offer Statistics
1
Offer Price
$0.20 per new share
2
Securities offered
35 mil @ min,
50 mil @ max
3
Gross cash proceeds from the Offer
$7m min, $10m max
4
Total number of Shares on issue on completion of the Offer
80 mil min, 95 mil max
5
Indicative market capitalisation at the Offer Price (post Offer completion)
$16m min, $19m max
6
Enterprise value at the Offer Price (after IPO costs)
