Company Overview
Incorporation and Name: Raptor Resources Limited (ACN 142 901 442) was incorporated as a public unlisted company on 31 March 2010 in Western Australia under the name Bimini Resources Ltd. It changed its name to Raptor Resources Ltd on 7 November 2012.
Focus and Strategy: The company is focused on the exploration and development of mineral projects in well-endorsed mineral districts in Canada and Australia. It targets regions considered highly prospective for gold, copper, and other base metals.
Projects: Raptor Resources is involved in several projects:
- Chester Project: Prospective for copper and zinc, located in New Brunswick, Canada.
- Turgeon Project: Also in New Brunswick, Canada, targeting copper and zinc.
- Emu Lake Project: Located in Western Australia, prospective for gold, copper, and nickel.
Financial Overview
Financial Position: The company is currently in the exploration stage and is making a loss. It has no operating revenue and will require additional financing to continue its operations and fund exploration activities.
Use of Funds: Funds raised from the public offer will be used for exploration and development activities, directors’ and management fees, cash consideration for acquisitions, and working capital .
Capital Structure
Public Offer: The company is offering a minimum of 40,000,000 shares and a maximum of 50,000,000 shares at $0.20 per share to raise between $8,000,000 and $10,000,000 .
Current Capital Structure:
- Existing Shares: 20,896,338
- Consideration Shares: 14,125,000
- Performance Rights: 7,250,000
- Options: Up to 13,050,000 depending on the success of the public offer .
Management and Governance
Directors:
- Brett Wallace - Managing Director
- Adam Sierakowski - Non-Executive Chair
- Gary Powell - Non-Executive Director.
Governance: The company has established a framework for corporate governance, risk management, and compliance with applicable regulations. The board consists of experienced professionals with backgrounds in mining, exploration, and corporate management.
summary of the projects detailed in the Raptor Resources Prospectus:
Chester Project
- Location: North central New Brunswick, Canada, approximately 70 km southwest of Bathurst and 50 km west-northwest of Miramichi.
- Geology: The Chester Project hosts a mafic-type Cu-Zn volcanic massive sulfide (VMS) deposit with associated feeder or stringer-zone sulphide mineralisation.
- Objectives: Targeting copper, zinc, and silver mineralisation through systematic exploration activities, including resource definition drilling, geophysical surveys, and metallurgical test work.
- Historical Exploration: Extensive drilling and geophysical surveys have been conducted since the 1950s. Key activities include ground EM geophysical surveys, geochemical sampling, and diamond drilling.
- Budget: A budget of AUD$2.77 million to AUD$3.75 million is allocated over two years for exploration activities.
Turgeon Project
- Location: Northeast New Brunswick, approximately 30 km northwest of Bathurst and 3 km southwest of the Village of Belledune.
- Geology: Prospective for copper, zinc, and silver with mineralised sulphide zones such as the Dragon, Zinc, and Powerline zones.
- Objectives: Focus on trenching, geological mapping, and diamond drilling to define the resource potential and undertake phase 2 infill/extension drilling.
- Historical Exploration: Previous exploration includes trenching, geochemical sampling, and various geophysical surveys.
- Budget: A budget of AUD$1.11 million to AUD$1.93 million is allocated over two years.
Emu Lake Project
- Location: Approximately 80 km northeast of Kalgoorlie, Western Australia, covering parts of the Coolgardie Mineral Fields.
- Geology: Situated within the Yilgarn Craton, the area is prospective for gold, copper, and nickel.
- Objectives: Conduct detailed geological mapping, soil geochemical sampling, and scout drilling programs to explore gold and nickel prospects.
- Historical Exploration: Includes aircore drilling, grid-based auger geochemistry, and interpretation of aeromagnetic and electromagnetic data.
- Budget: A budget of AUD$0.20 million to AUD$0.295 million is allocated over two years.
Overall Strategy
Raptor Resources aims to transition from an explorer to a developer through:
- Systematic exploration activities aimed at discovering economic mineral deposits.
- Conducting economic and technical assessments in line with industry standards, including scoping and feasibility studies.
- Project development and construction, subject to successful exploration outcomes and availability of funding
