AUSTRALIAN GOLD AND COPPER LIMITED
We are pleased to launch the IPO for Australian Gold and Copper Limited (AGC or the Company). AGC is seeking to raise up to a maximum of A$10 million (subject to a minimum of A$7 million) of primary capital. Taylor Collison is acting as Sole Lead Manager and Bookrunner to the Offer.
The Prospectus is available to download at https://www.austgoldcopper.com.au/
WHAT WE LIKE ABOUT AGC:
- Valuation: $10m pre-money valuation is compelling given quality and location of portfolio
- Assets: 3 projects, 1,000km² and 7 walk-up, near surface drill targets
- Location: Lachlan Fold Belt – hosts several multi-million ounce gold deposits
- Quality & Diversity: The 7 identified drilling targets defined by historic workings, drill intercepts, outcropping, surface Geochem and geophysics – there are multiple data sets defining these targets
- News Flow: Extensive drill program expected to commence in January 2021 (AGC has already secured a rig) with an anticipated 5,000m of drilling in first 8 months. The rig will rotate amongst the drill targets whilst awaiting asays
- Team: Highly experienced with strong track record of discoveries
OFFER DETAILS
| Key Offer Statistics | |
| Cash Offer Price |
$0.20 per Share |
| Securities Offered |
Min 35 million, Max 50 million |
| Gross cash proceeds from the Cash Offer |
Min $7 million, Max $10 million |
| Total number of Shares on issue on Completion of the Offer |
Min 85 million, Max 100 million |
| Indicative market capitalisation at the Cash Offer Price (post Offer completion) |
Min $17 million, Max $20 million |
| Pro Forma net cash on Completion of the Offers (Section 5 Prospectus) |
Min $6.2 million, Max $9.0 million |
- AGC’s projects are contributed by Magmatic Resources (MAG) and New South Resources (NSR) at a valuation of $10.0 million. There will be an 80% in-specie distribution of AGC shares to MAG and NSR shareholders, with the remaining 20% held by MAG and NSR. The large majority of the vend will be subject to escrow – see page 3 of the term sheet for details of relevant shareholdings and escrow.
- The Offer is conditional upon the satisfaction (or waiver) of a number of conditions including: obtainment of MAG and NSR demerger approval, AGC obtaining ministerial approvals relating to the transfer of the tenements under the Mining Act and AGC obtaining a conditional admission letter from the ASX. Further detail on these conditions are outlined in prospectus.
| Indicative Timetable | |
| Lodgement of Prospectus with ASIC |
18 November 2020 |
| Opening Date of Offer |
26 November 2020 |
| Firm Bids Due |
11 December 2020 |
| Closing Date of the Priority Offer (unless closed early) |
15 December 2020 |
| Closing Date of Offer (unless closed early) |
18 December 2020 |
| MAG AGM – Demerger Approval |
18 December 2020 |
| Effective Date of Capital Return |
22 December 2020 |
| Settlement Date of Offer |
24 December 2020 |
| Allotment Date of Shares |
31 December 2020 |
| Expected date for dispatch of holding statements |
4 January 2021 |
| Expected commencement of trading on ASX |
5 January 2021 |
DISCLOSURE: Taylor Collison Limited ABN 53 008 172 450, holder of AFS Licence Number 247083, and an ASX Market Participant. Taylor Collison Limited believes that the information contained in this document has been obtained from sources that are accurate, but has not checked or verified this information. Except to the extent that liability cannot be excluded, Taylor Collison Limited and its associated entities accept no liability for any loss or damage caused by any error in, or omission from, this document. This document has been prepared for informational purposes only and does not purport to provide advice in relation to any investment product.
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