Advance Metals Limited

Advance Metals Limited (ASX:AVM)

Offer Price

A$0.004

per share

Offer Size

A$535,000

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Advance Metals Limited

Placement

Advance Metals Limited (ASX:AVM)

ADV1

Lead Manager

Offer Price

A$0.004

per share

Offer Size

A$535,000

Placement

Advance Metals Limited

Offer Details

Offer Price (Per Share)

A$0.004

Offer Size

A$535,000

Shares Available

133,750,000

Discount

85.20%

AVM is seeking to raise up to A$535,000 via a private placement of up to 133,750,000 new shares at A$0.004 per share in the Company (“New Shares”) together with one (1) free attaching unlisted option for every two (2) new shares issued in the Company under the placement (“Free-Attaching Options”)

The issuance of the Free-Attaching Options is subject to shareholders’ approval, post the completion of the Placement. Each Free-Attaching Option will have an exercise price of A$0.009 and an expiry date of two (2) years from the date of issue.

Garnet Skarn Deposit, Idaho

  • High grade skarn deposit in historic mining district.
  • Copper observed across project. Rock Chip Samples up to 21% Cu.
  • Potential for exploration target upgrades.
  • Established drill targets. Permitting process well underway.
Garnet Skarn Deposit, Idaho

Augustus Polymetallic Project, Arizona

  • High grade copper project with large potential.
  • XRF samples up to 20% copper outcropping at surface.
  • Close proximity to large porphyry deposits. 40 Miles from Bagdad mine.
  • Year-round accessible existing infrastructure.
Augustus Project Exploration Map

Board and Management

Geoffrey Hill

Geoffrey Hill

Chairman

Geoff has been an Investment Banker for over 40 years with expertise in growing junior mining companies. Non-Executive Director of American Rare Earths (ASX:ARR), a company he helped build from a $5M MCap to over $140M in 24 months. Spun out Cobalt Blue a $220M MCap Cobalt company listed on the ASX. Ex Chairman of Mount Gibson Iron. Ex-Director of Hill Holding, Centrex Limited, and Brickworks Investments.

Melissa Sanderson

Melissa Sanderson

Non-Executive Director

Melissa has worked across the globe for Freeport-McMoran, a global leader in copper production. She is currently a non-executive director for American Rare Earths and sits on a number of mining committees in the USA. Mel is adept at cross-cultural communication and brings leadership experience in inclusivity and diversity issues. Mel also worked in the US state department as a senior diplomat.

Keith Middleton

Keith Middleton

Executive Director

Keith Middleton has worked in senior executive positions in major corporations for over 20 years. He has a Bachelor of Arts from the Flinders University in South Australia; major Economics. 

Wayne Kernaghan

Wayne Kernaghan

Company Secretary

Wayne is a qualified chartered accountant who spent 5 years with Price Waterhouse. On leaving Price Waterhouse he has spent over 20 years as Finance Director and Company Secretary within the mining industry for ASX listed companies and as an Investment Manager in Australia and the United Kingdom, including with Waverly Asset Management

Frank Bennett

Frank Bennett

Chief Executive Officer

Frank has 35+ years experience in the mining sector, including roles as CEO, President, CFO, Director of Strategy and multiple Management Consultant roles for firms in the metals, aggregates, coal and specialty materials segments, including Newmont, MP Materials, Energy Coal Resources and Horizon Natural Resources

Dom Hill

Dom Hill

Chief Operating Officer

Mr Dominic Hill has extensive experience in the investment and the mining sectors. He has been with the business since its foundings has and established the North American Operations. 

Indicative Timeline

Trading Halt

16th October 2023

Firm Bids Due

9pm (AEDST) 17th October 2023

Expected Quotation of New Shares

25th of October 2023

Disclaimer

The new shares in the Company are being offered and issued in the Placement only:

(a) in Australia to "sophisticated investors", "professional investors” or “experienced investors”, as defined in section 708(8) and (11) of the Australian Corporations Act2001 (Cth); and (b) to certain institutional and professional investors in certain overseas Permitted Jurisdictions in transactions exempt from relevant prospectus or registration requirements.

The “Permitted Jurisdictions” for the Placement are Australia, New Zealand, Singapore, Hong Kong and China.

Advance Metals Limited

Placement

Advance Metals Limited (ASX:AVM)

ADV1

Offer Price

A$0.004

per share

Offer Size

A$535,000

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