HIGHLIGHTS ? Tin, tungsten and fluorspar are at near record prices ? Minemakers? tenure includes all the major hard rock tin and tungsten mining centres in North East Tasmania ? Australia?s most productive historic tin and tungsten field ? Its Moina deposit is understood to be the largest undeveloped fluorspar deposit in the world and is associated with tin, tungsten, bismuth and magnetite ? Minemakers will spin-off these assets as TNT Mines Limited (?TNT?) in an IPO aimed to raise $10M ? There will be an in specie distribution of TNT shares to Minemakers? shareholders and they will enjoy a preferred position in applications for new shares in the IPO
IPO INTENTIONS The current intention is to seek a listing for TNT on the ASX and to raise $10M in an IPO. There will be an in specie distribution of about 40% of the intended shares in TNT to shareholders of Minemakers, and this is likely to be on an approximately 1 for 5 basis and involve about 50 million shares. Current Minemakers shareholders will also be given a priority in application for new TNT shares. The remaining 20% of shares upon listing will be held by Minemakers.
THE ASSETS Minemakers, via its wholly owned subsidiary, Minemakers TTT Pty Ltd, wholly owns mineral tenements covering all major historic hard rock producing tin and tungsten centres of North East Tasmania. The subsidiary company is to be re-named TNT Limited and the tenements contain: ? The major historic tin and tungsten mines of Aberfoyle and Storey?s Creek ? The Lutwyche tin/tungsten deposit ? The Anchor tin mine ? The Royal George tin mine ? The Great Pyramid tin deposit ? Various exploration targets based on outcropping mineralization and geophysical surveys
The wholly owned subsidiary, Minemakers (Moina) Pty Ltd has an option to acquire an initial 80% of the tenement containing the Moina fluorspar and polymetallic deposit. TNT Limited will acquire Minemakers (Moina) Pty Ltd and its assets. Based on historic work, an exploration target of 40-60mt at the following grades seems realistic; 17 ? 20% fluorspar 18 ? 22% magnetite 0.1? 0.15 tin 0.07 ? 0.15% tungsten 350 ? 450ppm bismuth. A recognised fluorspar consultant has advised his opinion that Moina is the largest undeveloped fluorspar deposit known in the world, as previously reported. (
AEV Price at posting:
40.3¢ Sentiment: Hold Disclosure: Held
