TM1’s placement provides exposure to the 100%-owned district-scale Dante Project in WA, where recent high-grade PGE3 discoveries and a substantial multi-commodity Resource underpin significant growth potential. Surrounded by majors including BHP and Rio Tinto, Dante is emerging as a large-scale, infrastructure-ready critical minerals system with clear pathways to development.
Terra Metals Limited (ASX:TM1)
TM11
Lead Manager
Contact - Jake Grbavac
0474 484 982
jake@liquidity.com.au
Offer Price
A$0.370
per share
Offer Size
A$50,000,000
Offer Details
Issue Price (Per Share)
A$0.370
Discount
-27.59%
Offer Size
A$50,000,000
Shares Available
135,135,135
A$50m placement, with the ability to accept overs, at A$0.37 per share.
Discount
- Discount to last close price of A$0.405/sh: 8.6%
- Discount to 5 trading day VWAP of A$0.432/sh: 14.3%
- Discount to 10 trading day VWAP of A$0.405/sh: 8.6%
Documents & Downloads
District Scale Dante Project (100%), WA
- District Scale surrounded by majors – BHP & Rio Tinto (Nebo-Babel & Succoth within 15km).
- Multi-commodity system rich in copper, platinum group metals, gold, vanadium and titanium.
- Exceptional metallurgy with high-grade concentrates.
- Airstrip, grid power, cell service and town on tenement.
Dante Project – Southwest exceptional PGE3 intercepts
- Southwest 5 (SW5) & Southwest 6 (SW6) discoveries – substantial mineralised system over at least 850m of strike between SW5 & SW6.
- SW5 – significant PGM sulfide discovery, with results including 35m @ 2.90g/t PGE3, 0.10%Cu from 48m, including 14m @ 6.71g/t PGE3 from 68m with:
- 3m @ 27.78g/t PGE3, 0.16% Cu, 0.15% Ni from 68m
- 1m @ 52.97g/t PGE3 from 69m.
- SW6 – apparent thickness >200m, remaining open at depth, with results including:
- 61m @ 1.41g/t PGE3, 0.13% Cu, 0.19% Ni from 172m (inc. 0.3m @ 31.1 g/t (1oz/t) PGE3).
- 82.4m @ 1.14g/t PGE3, 0.11% Cu, 0.11% Ni from 262m to end of hole (inc. 25.88m @ 2.25g/t PGE3).
- 89m @ 0.96g/t PGE3, 0.09% Cu, 0.14% Ni from 144m (inc. 1m @ 8.76 g/t PGE3).
- SW3-SW4 thick titanium-vanadium-gallium system extends over 800m strike and more than 400m of width from surface.
Dantes Reefs
- Mineral Resource – 148Mt @ 14.8% TiO2, 0.54% V2O5, 0.18% Cu, 0.33g/t 3PGE (1.38% CuEq):
- Metallurgy demonstrates high-grade concentrates with excellent recoveries.
- Less than 5% of outcropping strike tested.
- Laterally extensive, outcropping, shallow dipping resource, potential open pit mining.
Use of Funds
Use of Funds
1.
Accelerate the exploration and resource development plan
2.
Geophysics, metallurgical & optimisation work
3.
Dante PFS & commencement of DFS
Disclaimer
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