ALL stock that was issued below $0.20 is escrowed under ASX rules and voluntary arrangements with seed shareholders.
The EV of OZZ is circa AUD$3.9m.
Ozz Resources Limited is a Western Australian junior mining exploration company with a focus on gold, with five projects located near major gold production centres and along strike on major regional mineralising structures:
The Mt Davis Project: where the Company has a signed farm-in agreement to earn up to 51% project interest by sole funding $650,000 expenditure in 2 years and up to 80% project interest by completing a feasibility study;
The Maguires Reward Project: where the Company has a signed tenement purchase agreement to acquire 100% interest in the project;
The Peterwangy Project: where the Company has a signed farm-in agreement to earn up to 51% project interest by sole funding $400,000 expenditure in 2 years and up to 76% project interest by completing a feasibility study;
The Rabbit Bore Project: where the Company has a signed purchase and joint venture agreement to acquire 80% interest, form a joint venture with the vendor and sole fund until a decision to mine is made;
The Wardarbie South Project: where the Company has a signed purchase and joint venture agreement to acquire 80% interest, form a joint venture with the vendor and sole fund until a decision to mine is made.
All the five projects are focused on areas with proven gold endowment, three of which are nearby processing plants with potential for toll treatment. The Rabbit Bore Project is also located near the recent Odyssey Gold (ASX: ODY) discovery at Bottle Dump. These projects contain
drill ready targets with approvals in place for drilling at The Maguires Project (planned for June) and Aeromagnetic surveys and soil sampling ready to go at The Rabbit Bore and Peterwangy Projects.
Some of the best historical drilling results at The Maguires Reward Project include:
6m at 18.6g/t
7m at 8.7g/t
6m at 11.6g/t
With an Exploration Target of between 0.15Mt at 4.3g/t for 21koz and 1.5Mt at 2.3g/t for 110koz (to 200m) – both open pit and UG potential. Three projects are located within 75km trucking distance of operating plants and are nearby several recent discoveries including Musgrave Minerals (ASX: MGV) and Odyssey Gold (ASX: ODY).
KEY OFFER TERMS AND INDICATIVE CAPITAL STRUCTURE:
Shares on issue on the Lodgement Date 12,036,875
Shares offered under the Public Offer 25,000,000
Vendor Shares to be issued 7,600,000
Total Shares upon listing 44,636,875
Offer price $0.20
Amount to be raised under the Public Offer $5,000,000
Initial market capitalisation $8,927,375
Options on issue on the Lodgement Date 10,536,875
Vendor Options to be issued 2,600,000
Lead Manager Options to be issued 2,800,000
Directors Options to be issued 5,500,000
Total Options upon listing1 21,436,875
Fully diluted share capital 66,073,750
Enterprise value upon listing2 $3,927,375
