Mining Green Metals Ltd (ASX: MG1) is a mineral exploration company focused on identifying, evaluating and, if warranted, acquiring nickel, lithium, copper, platinum group elements (PGEs), rare earth elements (REE) and uranium projects in Australia. The company has entered into three Option Agreements to acquire 100% interests in three separate projects in WA.
The projects include:
- Coates Project (100% interest) and Nowthanna Hill Project (100% interest) – option to acquire the Projects from Australian Vanadium Limited pursuant to the AVL Option Agreement.
- Lake Johnston Project (initial 70% interest, with an option to acquire remaining 30%) – options to acquire interest in the Project from Bryah Resources Limited pursuant to the BYH Option Agreement and West Coast Minerals Pty Ltd pursuant to the WCM Option Agreement.
The projects located in Western Australia are situated in the highly prospective Archaean Yilgarn Craton in southern WA. The company selected these projects based on their potential to contain economic deposits of lithium, nickel, copper, PGE’s REE’s, and uranium.
Terms of the Offer
Mining Green Metals Ltd is looking to undertake an IPO on ASX to raise $5 million via the issue of 25 million shares under the Offer at an offer price of $0.20. The company will have an indicative market capitalisation of approximately $11.65 million on completion of the offer on a fully diluted basis.
The company is offering one (1) free-attaching Option exercisable at $0.25 and expiring four (4) years from the date of grant for every two (2) Shares subscribed for and issued under the Offer.\
Read the full offer and prospectus: https://www.onmarket.com.au/offers/mining-green-metals/?refid=3F38NGLF
