Surefire Resources NL

Surefire Resources NL (ASX:SRN)

Offer Price

A$0.011

per share

Offer Size

A$2,000,000

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Surefire Resources NL

Placement

Surefire Resources NL (ASX:SRN)

SUR1

Lead Manager

Offer Price

A$0.011

per share

Offer Size

A$2,000,000

Placement

Surefire Resources NL

Offer Details

Offer Price (Per Share)

A$0.011

Offer Size

A$2,000,000

Shares Available

181,818,182

Discount

-10.00%

• Surefire Resources (‘Surefire’) (‘SRN’) is seeking to raise A$2M via a placement at A$0.011 per share. This represents a discount of 31% to last close. The Company will also undertake a Non-Renounceable Entitlement Offer to raise up to A$2M.

• The offer also includes a 1:1 free attaching option with an exercise price of A$0.019, expiring 3 years from date of issue. The Company intends to list the options subject to meeting the ASX’s minimum listing requirement.

• SRN has mandated Evolution Capital and SP Corporate Advisory to act as Joint Lead Managers.

Victory Bore Vanadium Project

  • JORC Resources of 321Mt @ 0.39% V2O5 + 37.7Mt @ 23.3% Al2O3.
  • Easy to mine orebody which comprises two ~50m -80m thick lodes of vanadium magnetite that are 77m apart, starts from surface to >100mbs, dips ~70 west, over 1.5km strike, and remains open to the north, south extending for 21 km and at depth making it one of the largest ore bodies in Australia.
  • Further exploration target of 682Mt–1,190Mt @ 0.20%–0.43% V2O5.
  • The Company plans to produce the following products (with approximate price per tonne) from its high quality magnetite feed stock, all of which are in demand in Kingdom of Saudi Arabia (KSA) : Vanadium Pentoxide (USD$16,500/t), Ferro Vanadium (USD$26,700/t), High Purity Vanadium for Vanadium Electrolyte (USD$20,900/t), Titanium Oxide slag (USD$657/t), Pig-Iron (USD$412/t) and Hematite Pigment (USD$450/t)
  • Zone of high Aluminium oxide lies between the vanadium lodes. Test work and assays confirmed the potential production of 99.99% (4N) High-purity Alumina (HPA) from this host rock to provide bonus credits to the project's economics.
  • MOU with the Kingdom of Saudi Arabia to construct a low CAPEX, low OPEX, downstream vanadium processing plant (relative to Australia) in the well-established Ras Al-Khair industrial region.
Location of Unaly Hill and Victory Bore Vanadium Project

Yidby Gold Project

Yidby Gold Deposit & Exploration Targets T1-T3 Regional Setting. The Yidby Gold Deposit is surrounded by four significant gold projects.
  • 380km NW of Perth, along the Great Northern Highway, and within the underexplored greenstone belt.
  • Covers 114km2 and surrounded by numerous gold mines including the 2.75Moz Mt.Gibson Gold Mine, 1.1Moz Minjar Gold Mine, and 1.0Moz Kirkalocka Gold Mine.
  • Recent RC drill program (25 holes for 3,381M) intersected quartz-porphyry in all drill holes with the following highlight:
    • 11m @ 3.78g/t Au including 1m @ 34.96g/t
    • 44m @ 2.77g/t Au including 3m @ 26.44g/t
    • 56m @ 1.97g/t Au including 4m @ 14.7g/t.
    • 60m @ 1.04g/t Au including 4m @ 10.4g/t
    • 100m @ 0.53g/t Au.

Board and Management

Vladimir (Roger) Nikolaenko

Executive Chairman

Paul Burton

Managing Director

Michael Povey

Non-Executive Director

Roger Smith

Non-Executive Director

Indicative Placement Timeline

Trading Halt

Wednesday, 1 November 2023

Bids due

2pm Thursday, 2 November 2023

Confirmations due

5pm Thursday, 2 November 2023

Trading halt lifted

Friday, 3 November 2023

DVP settlement

Wednesday, 8 November 2023

Expected quotation of new shares

Thursday, 9 November 2023

Surefire Resources NL

Placement

Surefire Resources NL (ASX:SRN)

SUR1

Offer Price

A$0.011

per share

Offer Size

A$2,000,000

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