From the prospectus Total Shares on Issue (Post IPO) :...

From the prospectus

Total Shares on Issue (Post IPO) : 34,575,100
Market Capitalisation at IPO :$6,915,020
Enterprise Value at IPO : $2,115,020

PROJECT SUMMARY
1) EdjudinaProject : The project tenements cover an area of approximately 24km2 and is considered prospective forArchaean lode style gold deposits. Approximately 170km northeast of Kalgoorlie in Western Australia, with access via the Yarri Road, Mount Celia Road and established station tracks. TheGeology consists of mafic, ultramafic and felsic sedimentary units which have the potential to hostLode style gold deposits. Neighboring Gold explorers and producers include Saracen Minerals(ASX:SAR)

2) Yule RiverProjectThe Yule River Project is situated approximately 40km to the southwest of Port Hedland in WesternAustralia (Figure . The tenement covers an area of approximately 225km2 and is consideredprospective for Archaean mesothermal lode style gold deposits. The project is centered on a > 10kmlong, north striking shear that is interpreted to be related to the much larger, generally east-westtrending Mallina Shear zone. The most significant deposit hosted within the Mallina Shear is the>500,000 oz Camel – Withnell Deposit located approximately 30km to the south of the Yule RiverProject.

BOD
Mr. Michael O’KeeffeNon-Executive Director

A metallurgist by training, Michael serves as Executive Chairman and CEO of Champion IronLimited (ASX/TSX:CIA) MCAP $1.04 Billion. His vast knowledge of the mining industry and its issues and hisextensive experience managing large companies have given him an impressive track recordof rock-solid achievements.

Riversdale Mining Limited (2004-2011): As Executive Chairman, he drove the developmentof this Australian mining company, taking it from a junior company with a marketcapitalization of A$7m to a major company acquired by Rio Tinto for the staggering sum of$4 billion. During his tenure at Riversdale Mining, Michael raised approximately A$780m.

Glencore Australia Limited (1995-2004): As Managing Director, he was responsible for theirAustralian acquisitions. Under his management, company market share in Australia andSouth Asia increased exponentially, and sales increased from $100m to $2.4 billion.

Mount Isa Mines (1975-1994): At Mount Isa, Michael served at executive managementlevel in commercial activities in Queensland, Australia. His mandates included feasibilitystudies for copper smelting and pursuing refining opportunities in Europe, Asia, NorthAmerica and South America.

Mr. Gary LawlerNon-Executive Chairman

Gary has particular expertise in the areas of mergers and acquisitions and corporategovernance, having practiced in this space for over 30 years. Gary has advised many listedcompanies and investment banks on a wide range of corporate transactions includinghostile takeovers, takeover defenses, agreed mergers and corporate reconstructions.

Gary is also a trusted adviser to many boards on corporate governance matters. He hasheld board positions with Dominion Mining Limited and Riversdale Mining Limited and iscurrently Chairman of Riversdale Resources Limited and a director of Champion IronLimited (ASX/TSX:CIA).

My Thoughts :

Very low EV of 2.1 Mil .It was extremely hard to get any decent allocation in this IPO so should be a tight register. Peloton Capital is a lead manager who delivered some extremely successful IPOs /Deals i.e G1A ( 5c IPO ex split to 40c now ) , KTD ( 20c IPO to 87c high and now 37c ) , EM2 ( 20c IPO to 50c high now 15c) .

Projects looks average but with this high caliber of management , I am very confident about the future direction of the company.Also many loyal CIA investors must be backing the management team again and expecting similar or better outcome here.

Certainly a long term hold and a buy under 40c ( sub 10 mil EV ) post listing IMO

ALL IMO

DYOR

GLTAH