R3D Resources Ltd

R3D Resources Ltd (ASX:R3D)

Offer Price

A$0.050

per share

Offer Size

A$500,000

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R3D Resources Ltd

Placement

R3D Resources Ltd (ASX:R3D)

R3D1

Lead Manager

Offer Price

A$0.050

per share

Offer Size

A$500,000

Placement

R3D Resources Ltd

Offer Details

Offer Price (Per Share)

A$0.050

Offer Size

A$500,000

Shares Available

10,000,000

Discount

-25.00%

Single Tranche Private Placement Offer utilising the company’s Listing Rule 7.1 and 7.1A capacity to raise up to $500k with the ability to take $900k in oversubscription at an issue price of $0.05.

The placement offer comes with 1:2 free attaching option with an exercise price of $0.10, expiring 31 December 2025. The issuance of the options requires shareholder approval at the General Meeting and the company aims to list the options subject to meeting ASX listing requirements.

Post the Placement Offer, the company will be looking to conduct a 1 for 10 ratio Loyalty Option Offer on the same terms as the placement offer.

The Directors of the Company will also be committing $200k worth of the Placement on the same terms subject to receiving shareholder approval.

Project Highlights

  • Tartana Copper Sulphate Plant: A recently commissioned Copper Sulphate Pentahydrate production plant for which the Company has secured a 100% offtake partner, Kanins International. Production commenced at 4 tonnes per day last week and will ramp up to 8+ tonnes per day in coming months. Funds received from current production will result in R3D being cash flow positive for the December quarter.
  • Tartana Copper/Gold: A significant resource totalling 45,000 tonnes of contained Copper at 0.45% using a 0.2% Cu cut-off grade reported in early 2023. Preliminary ore sorting testwork indicates potential for approximate 100% upgrade to Copper grade. Mineralisation remains open at depth with further drilling targeted for 2024. Within granted Mining Leases.
  • Queen Grade Zinc: A resource of 39,000 tonne contained Zinc at 5.29% Zn using a 0.5%n Zn cut-off grade with potential Ag and Pb credits not included reported in early 2023. Mineralisation remains open at depth and similar in style to the nearby King Vol orebody which extends to depths exceeding 500m. Within granted Mining Leases.
  • Mountain Maid Gold: A resource of 415,000 oz Gold at 0.34 g/t Au using a 0.2g/t Au cut-off grade including an oxidised zone of 37,300 koz at 0.35g/t Au at or near surface, reported in early 2023. Mineralisation remains open in several directions. Mining Lease applications have been made.
  • Nightflower Silver: A recently acquired Silver project with an exploration target across Northern section of the project of 2.7 million tonnes @ 134g/t Ag eq for 17 million oz Ag eq contained to 5.3 million tonnes @ 193 g/t Ag eq for 23 million oz Ag eq contained.
  • Zeehan Zinc: A Zinc slag project where the Company has been exporting Zinc slag offshore on recently improved margins. The Company is exploring the sale of the project or the development of a new project extracting precious and base metals including Gold from tailings on site.

Relevant Documents

Board Members

Jihad Malaeb

Jihad Malaeb

Independent Non-Executive Chairman

Mr Malaeb is an experienced entrepreneur across a number of industries, including hospitality and construction, as well as having significant experience in mineral exploration and mining operations – both as an active investor and company director. He currently owns and operates a portfolio of hospitality businesses and real estate across Australia, which have been established over the past 30 years. Mr Malaeb was previously a Non-Executive Director of Critical Resources Limited (ASX:CRR), where he helped steer CRR through the past few years as one of its largest shareholders and as a board member.

Stephen Bartrop

Stephen Bartrop

Managing Director

Education: PhD, BSc(Hons), Grad. Dip. Securities Instit. MAusIMM, F Fin, MSEG, GAICD.

Steve’s professional experience spans more than 30 years covering periods in both the mining industry and financial sector. With a geology background, Steve has worked in exploration, feasibility and evaluation studies and mining in a range of commodities and in different parts of the world. In the financial sector, Steve has been involved in research, corporate transactions and IPOs spanning a period of more than 20 years, including senior roles at JPMorgan, Bankers Trust and Macquarie Equities.

Bruce Hills

Bruce Hills

Executive Director

Education: BCom, CA (NZ)

Bruce is an accountant and is currently an Executive Director of Breakaway Investment Group Pty Ltd which operates the Breakaway Private Equity Emerging Resources Fund. Bruce is a Director of a number of unlisted companies in the mining and financial services sectors including The Risk Board and Stibium Australia. Bruce has 35 years’ experience in the financial sector including 20 years in the banking industry primarily in the areas of strategy, finance and risk.

Michael Thirbeck

Michael Thirbeck

Independent Non-Executive Director

Mr. Thirnbeck is an experienced geologist with over 25 years in managing numerous mineral development projects in Papua New Guinea, Indonesia and Australia. He has been a Member of the Australasian Institute of Mining and Metallurgy since 1989 and holds B.Sc (Hons.) degree from University of Queensland.

R3D Resources Ltd

Placement

R3D Resources Ltd (ASX:R3D)

R3D1

Offer Price

A$0.050

per share

Offer Size

A$500,000

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