TG6 - TG Metals - IPO, page-2

Thanks for setting up this discussion thread 1StepForward. Looks interesting given the very low EV.

From Canaccord:

Nickel and potential lithium exploration play in the Lake Johnston Greenstone Belt of WA. Early stage project.

Offer Details

Raising $6m at $0.20c/share.

$11.5m MC with approx. $6.5m EV.

$15.4m fully diluted.

Expected top 20/key stakeholders will own around 50-60%, potentially more.

Lake Johnston Project

Lake Johnston Greenstone Belt – situation between the Southern Cross Greenstone Belt and Norseman Greenstone Belt, hosts to multiple Nickel/Gold projects/exploration plays..

Project covers +50km strike of the LJ Belt, with favourable komatiite host for nickel sulphide extends for the entire length of the project.

Extensive historical work provides the company with a good foundation for further exploration to expand on post IPO.

Lithium potential on Lake Johnston not previously tested, but will be targeted post IPO with known occurrences in the region.

Minimal historical gold exploration also done – wont be a key focus though.

Worth mentioning also that Lake Johnston is trucking distance to 3 Nickel plants nearby.

Post IPO Company Plans

• Collate historical surface geochemistry and drilling results
• Expand on previous drilling – past drilling is not compliant with the JORC Code – looking to update these details initially.
• Identify potential lithium indicators within datasets and drill on existing/new targets.
• Advance assets Nickel targets and potential lithium targets.