IPO - Metals 479 Ltd, page-7

after receiving a marketing email, i had a good look at this today at this link:

https://www.upcomingfloats.com.au/Prospectus/METALS 479 LTD.PDF

49,931,666 various seed shares that average around 7.7 cents each plus 2.5M fee shares

the number of these shares subject to escrow appears not yet determined

maximum subscription of 35M shares at 20 cents plus 12.6M performance rights easily obtainable at 30Mt @ 35/gt

it appears proceeds of IPO must pay for (sooner or later) are $472,407 in liabilities plus $580,000 promissory note plus $251,000 pre-offer fees plus $542,000 to $678,000 offers costs leaves around $2.7M in the kitty at minimum subscription and $4.4M in the kitty at maximum subscription

The latest resource estimate in 2015 estimated 3.7 million tonnes at 257 Ag g/t and 0.3 Au g/t

sounds somewhat sexy however it looks too sporadic and too deep for me

there are loads (the vast majority) of drill holes there will zero mineralisation or low grade mineralisation

$1300/oz gold vs $17/oz silver converts into 1 g/t gold to 75 g/t silver

257 g/t silver = 3.4 g/t gold, which would be sexy at surface but not so sexy at depth

in short, it looks like high grade veins at depth

could possibly be a dump at open depending on the escrow provisions

regards