It looks like Litchfield Minerals is about to become the latest mineral explorer to list on the ASX. Here’s what we know according to their prospectus:
| Key Offer Information | Date |
|---|---|
| Lodgement of Prospectus | 24 Jan 2024 |
| Opening Date of the Offer | 31 Jan 2024 |
| Closing Date of the Offer | 28 Feb 2024 |
| Issue of new Shares | 1 Mar 2024 |
| Despatch of holding statements | 4 Mar 2024 |
| Expected date for quotation | 7 Mar 2024 |
| Key Offer Details | Minimum Subscription | Maximum Subscription |
|---|---|---|
| Amount to be raised under the Offer 1 | $4,500,000 | $5,500,000 |
| Offer Price per Share 1 | $0.20 | $0.20 |
| Total number of Shares on issue as at the date… | 10,403,846 | 10,403,846 |
| Shares to be issued under Offer 2 | 22,500,000 | 27,500,000 |
| Total number of Shares on issue at completion… | 32,903,846 | 37,903,846 |
| Percentage of Shares held by existing Sharehol… | 31.62% | 27.45% |
| Options on issue at Completion of the Offer 4 | 8,700,000 | 8,700,000 |
| Performance Rights issued to Directors 5 | 7,000,000 | 7,000,000 |
| Indicative market capitalisation upon completi… | $6,580,769 | $7,580,769 |
Explanation:
- Lodgement of Prospectus with ASIC: The company filed its prospectus with the Australian Securities and Investments Commission (ASIC) on 24th January 2024.
- Opening Date of the Offer: The offer officially commenced on 31st January 2024.
- Closing Date of the Offer: Investors have until 28th February 2024 to subscribe to the offer.
- Issue of new Shares under the Offer: The company will issue new shares to investors who subscribed to the offer on 1st March 2024.
- Despatch of holding statements to Shareholders: Shareholders will receive holding statements reflecting their new share ownership by 4th March 2024.
- Expected date for quotation on ASX: The shares are expected to be quoted on the Australian Securities Exchange (ASX) by 7th March 2024.
The key offer details outline the minimum and maximum subscription amounts, offer price per share, total number of shares on issue before and after the offer, percentage of shares held by existing shareholders after the offer, options and performance rights issued to directors, and the indicative market capitalization upon completion of the offer. These details provide potential investors with important information about the offer and the company’s financial structure post-offering.
In a world rapidly transitioning towards clean energy technologies, the demand for critical minerals is poised to soar. Litchfield Minerals Limited, through its exploration and development efforts, aims to capitalize on this growing demand while supporting the global shift towards sustainability.
Embracing the Clean Energy Revolution
As solar panels, wind turbines, and electric vehicles become increasingly integral to our daily lives, the need for minerals like copper, tungsten, rare earth elements, and gold has never been more pronounced. Litchfield Minerals stands at the forefront of this transition, positioning itself as an exploration and development company focused on critical minerals.
Strategic Projects in the Northern Territory
Litchfield Minerals holds an exploration license tenement in the Northern Territory, including the Mount Doreen Tenement (EL31305) and the Lucy Creek (ELA 33568) project, pending approval. These projects represent a vast area of over 1,100 square kilometers, offering significant potential for exploration and development.
Experienced Leadership and Expertise
Backed by a highly experienced board and management team, Litchfield Minerals brings a wealth of knowledge and a proven track record in Australian resource projects. The company has also enlisted the expertise of industry-leading consultants to ensure the success of its endeavors.
The Offer: Investing in the Future
The company is offering between 22,500,000 and 27,500,000 shares at $0.20 per share, aiming to raise between $4.5 million and $5.5 million. The proceeds from the offer will be used to further exploration drilling, geophysics, mapping, sample analysis, and operational labor, among other essential activities.
Understanding the Risks
While the prospects are promising, potential investors should carefully consider the risks associated with an investment in Litchfield Minerals. The prospectus provides detailed information on the current and proposed operations of the company, as well as the inherent risks involved.
A Transformative Opportunity
Litchfield Minerals offers investors a unique opportunity to participate in the burgeoning market for critical minerals while contributing to the global transition towards cleaner energy. As the world embraces sustainability, Litchfield Minerals is poised to play a pivotal role in shaping the future of resource exploration and development.
Investors are encouraged to read the prospectus carefully and consult with their financial advisers before making any investment decisions.
