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Resilience Mining Mongolia Ltd                   ASX:RM1

Resilience Mining Mongolia Ltd ASX:RM1

Resilience Mining Mongolia Ltd

High Quality brownfields Gold and Copper exploration in Mongolia

Resilience Mining Mongolia (RMM) to acquire an 80% share of Kincora’s Bronze Fox Mining Licence, Tourmaline Hills and Red Well Exploration Licence projects.

Highlights

Initial drilling supports one of the largest copper and gold systems in Mongolia, both porphyry and epithermal

  • Out of 175 holes drilled to date, 29 had 1 g/t intersections
  • 144 of the 566 rock chip samples taken contain 1 g/t Au, up to 180 g/t Au
  • Early-stage and tightly constrained exploration target to date of 416 - 428 Mt @ 0.26-.30% Cu
  • 1 689 km 2 landholding systematically explored and refined to 321 km 2
  • Multiple gold and copper projects, multiple drill-ready targets
  • Kincora’s large proprietary database, 10 years of data gathering and analysis from majors, sourced from such as the likes of Trafigura, Teck, Anglo American and MinEx

Strong Team

Strong joint Australian/Mongolian team, strengthened further by Kincora’s experienced Mongolian exploration, technical services, and administration teams. Highly respected and experienced management team and Board with extensive Mongolian experience.

Key Offer Details

Minimum
Subscription
Maximum
Subscription
Existing Shares
Existing Shares currently on issue 34,007,103 34,007,103
General Offer
Offer Price per Share under the General Offer $0.20 $0.20
New Shares offered under the General Offer 25,000,000 30,000,000
Cash proceeds of the General Offer $5,000,000 $6,000,000
Vendor Offer 2
Offer Price per Share under the Vendor Offer 0.25 0.25
Consideration Shares to be issued under the Vendor Offer 6,526,704 7,076,094
Cash proceeds of the Vendor Offer NIL NIL
Other Share Issues
Shares to be issued to the Lead Manager 392,500 392,500
Options 4
Existing Options currently on issue 12,250,000 12,250,000
Options to be issued to the Corporate Adviser5 1,977,789 2,144,271
Total Options on issue post Listing 14,227,789 14,394,271
Total Shares
Total Shares on issue post Listing (undiluted basis) 65,926,307 71,475,697
Total Shares on issue post Listing (fully diluted basis) 80,154,096 85,869,968

More information:

Contact Gavan Farley gavan.farley@novuscapital.com.au or +61 420 520 300 or Tom Booth tom.booth@novuscapital.com.au +61 403 103 410