Eagle Eye Metals Limited holds an outstanding portfolio of 8 nickel, gold and base metals mineral exploration projects in the Leonora-Laverton region of the North Eastern Goldfields of Western Australia, long recognised for producing large commercial metals discoveries.
> A greatly increased price for nickel together with improved prices for gold and other base metals over the past year gives further confidence as to the commercial viability of any discoveries the Company may make. The worldwide shortage of nickel for use in the manufacture of stainless steel augers well for its continued strong price.
> As a result of a successful Seed Capital fund raising, the Company has invested considerable time and funds in the acquisition of a high quality dataset to aid in its exploration and development programme and to ensure that exploration is cost effective and well targeted. This data, combined with field work and our existing knowledge of the areas has enabled the Company to confirm that the project areas fully justify intensive exploration.
> Seed Capital funds have been used to advance the Company’s exploration programme to the point where immediate drilling targets are now identified on 2 of the key projects.
> The Company is now seeking to raise $5,000,000 to further explore and develop these exploration projects, by way of a Prospectus Share Issue of 25,000,000 Ordinary Shares at 20 cents each, with 1 free attaching Option for each Share issued, these securities to be Listed for trading on ASX.
> The Company has already paid out the Vendors for all its exploration projects, and after paying Float costs the Shares will have a net cash asset backing at Listing date of over 10 cents per Share.
> Immediate post-Listing exploration and development focus will be on the Waite Kauri and nearby Randwick nickel/gold projects. Discovery of a major commercial nickel oxide deposit was recently announced on tenements directly adjacent to Eagle Eye’s Waite Kauri nickel project. The relatively simple and cost effective heap leach mining process now being applied to nickel deposits enables a short lead time to commencement of production with a high level of profitability.
> The next target will be the Leonora East gold/base metals project where past drilling indicates strong potential for commercial discoveries.
> The Company’s other exploration projects provide a number of separate exploration and drilling targets and are adjacent to or nearby existing resource positions. These projects will be explored progressively after Listing, and will be followed up for further and more intensive exploration as warranted from results as they come to hand.
> The Company benefits from a well balanced Board of Directors and consulting team selected for their dynamic drive and enthusiasm in exploration and mining development, financial management of public companies, negotiations of partnerships, media and investor relations and capital markets.
> Eagle Eye has formed a strong association with the Leonora based Johnson Gold partnership and other highly experienced and active prospectors who are the Vendors of the exploration projects to the Company, they having acquired them over a period of more than 12 years. These Prospectors will assist with the Company’s active exploration programme in the field, including tenement pegging services ensuring that the Company rapidly and efficiently obtains extensions to areas where exploration results indicate.
> Upon delivery of successful results, Eagle Eye will look to bring mining projects into production either in its own right or negotiate joint development with resource majors.
> Investment in Eagle Eye’s securities is a speculative investment and, as such, there are associated risks.
The Eagle Eye Metals Ltd prospectus is available online at:
http://www.eagleeyemetals.com/
EYE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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