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Novus Capital Limited is an investment and financial services company specialising in Investment Banking, Corporate Advisory and Share Trading services for Australian corporate and private clients, and overseas corporate clients.

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Mt Malcolm Mines NL

Mt Malcolm Mines NL

COMPANY OVERVIEW

Mt Malcolm Mines NL (“M2M” or “the Company”) is an Australia-based gold focused exploration company. The Company operates through two segments: corporate and exploration operations. The Company’s project includes Mt Malcolm Gold Project. The project’s prospect areas have been consolidated from approximately 151 tenements, including 122 prospecting licenses (PL), 21 prospecting license applications (PLA), two mining licenses (ML), three mining lease applications (MLA) and three exploration licenses (EL). 

The Company has assembled a comprehensive prospective tenement package, which covers approximately 274 square kilometers (km2) surrounding the Malcolm Mining Centre in the Central Eastern Goldfields, located approximately 10-25 kilometers (km) east of Leonora. The Project area is within the Kurnalpi Terrane of the Mt Margaret Mineral Field in the Malcolm District of Western Australia. The Malcolm district produces approximately 47,200 ounces of gold (oz Au).

Novus relies upon its discussions with the Company recently, announcements together with the Quarterly Report recently released by the Company on the ASX – M2M is focusing on high grade shallow gold deposits to realise early cash flow via shallow mining. The Company has cash on hand at the end of the quarter of $129k plus the short-term loan facility of $500,000 provided by Mr Trevor Dixon, Managing Director of M2M as announced to the market on 31 October 2023.

The Offer:

Mt Malcolm Mines NL is seeking to raise up to A$1.1 million in two staged tranches.

Tranche 1 – the offer of 15 million shares @ A$0.025 per share with free attaching 7.5 million options - Closed

Tranche 2 – the offer of 29 million shares @ A$0.025 per share with free attaching 14.5 million options, subject to shareholder approval at the EGM in January 2024 - Opening Soon

THIS OFFER IS FOR SOPHISTICATED AND PROFESSIONAL INVESTORS ONLY AS ASCRIBED UNDER SECTIONS 708(8), 708(10) AND 708(11) OF THE CORPORATIONS ACT 2001

For more information please contact: 

Tom Booth, Senior Client Adviser, Novus Capital Limited 

Mobile +61 403 103 410  tom.booth@novuscapital.com.au

Click to download Mt Malcolm Mines NL Term Sheet