Offer Price (Per Share)
A$0.0210
Offer Size
A$1,000,000
Shares Available
Adavale Resources Limited (ASX:ADD)
ADD
Lead Manager
Offer Price
A$0.0210
per share
Offer Size
A$1,000,000
Offer Details
Private Placement Offer utilising the company’s placement capacity to raise up to $1.0mil with the ability to take oversubscriptions at $0.021. Adavale will offer one free option for every two shares subscribed under the Placement with an exercise price of $0.035 each expiring on 30 June 2028.
The issuance of the options will be subject to shareholder approval at an upcoming general meeting and pursuant to a prospectus. The Company intends to apply for quotation of the options subject to the Company obtaining shareholder approval and satisfaction of the ASX Listing Rule requirements for quotation of the options.
If the options do not meet the ASX Listing Rule requirements for quotation of the options, the options will be issued as unlisted.
Documents & Downloads
Company Overview
Adavale Resources Limited (ASX: ADD) is an ASX-listed explorer with advanced assets across Australia and East Africa. Its flagship Parkes Project, in the Macquarie Arc of NSW, includes the historic London-Victoria Gold Mine with a JORC Inferred Resource of 3.14 Mt @ 1.06 g/t Au for 107,000 oz, and multiple gold-copper targets near major operations. Adavale also holds a large uranium portfolio in South Australia, and the Kabanga Jirani Nickel Project in Tanzania, adjacent to the Kabanga Deposit (87.6 Mt @ 2.63% Ni Eq).
London Victoria Mine (EL 7242)
The London-Victoria licence hosts the historically significant London-Victoria Gold Mine, which produced approximately 155,000 ounces of gold via open-pit mining at an average grade of ~2.0 g/t Au between 1987 and 1998. Operated historically by BHP Gold and subsequently Hargraves Resources, the project remains vastly underexplored at depth and along strike. The company has announced a maiden JORC 2012 Inferred 115koz Au defined at the London Victoria Gold Project. Within this estimate there is a higher-grade mineralised total of 3.14Mt at 1.06g/t Au for 107koz, defined within a shallow conceptual pit shell and representing a strong foundation for near-term resource growth.
The mineralised system remains open in multiple directions, with significant potential to uncover higher-grade, structurally controlled shoots beneath the existing pit floor (~150 metres depth), as well as parallel gold-bearing lodes. Adavale has defined a series of highpriority RC drill targets aimed at upgrading the Inferred Resource and expanding mineralisation. Drilling has commenced at London Victoria, targeting high-grade extensions beneath the existing open pit.
Front Gate (EL8831), No Mistake (EL8830), and The Dish (EL9711) Highly prospective Au-Cu licenses with key prospects:
- Ashes Prospect: High-grade rock chips: 8.8 g/t Au, 5.5% Cu, 19.2 g/t Ag.
- Myalls Prospect: Up to 0.86% Cu, 0.91 g/t Au in veins.
- Corner Prospect: RAB drilling intersections of 2m @ 1.73 g/t Au (epithermal style). Parkvale Prospect: Anomalous 6.3 g/t Au rock chip with magnetic anomaly.
- Cunich Prospect: 1.4 g/t Au rock chips with elevated Cu.
- Birthday Mine: Historic head grade of 11 g/t Au with untested extensions.
Indicative Use of Funds
Number
Use of Funds
1.
Exploration and Maiden drilling at London Victoria
2.
Geochemical and geophysical surveys (including IP and Mag)
3.
Further drilling at other exploration targets
4.
General Working Capital Purposes
Disclaimer
This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of Adavale Resources Limited. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.
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