Offer Price

A$0.054

per share

Offer Size

A$10,000,000

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Placement

AuMEGA Metal Limited (ASX:AAM)

AAM

Lead Manager

Offer Price

A$0.054

per share

Offer Size

A$10,000,000

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Placement

Key Offer Details

Issue Price (Per Share)

A$0.054

Discount

10.00%

Offer Size

A$10,000,000

Shares Available

185,185,185

The company is undertaking a capital raising of A$10m to A$15m, with the ability to take oversubscriptions:

The company will issue ~131m shares under ASX listing rule 7.1 and 7.1a (Tranche 1).
The company will issue ~54m shares subject to shareholder to shareholder approval at a forthcoming general meeting (Tranche 2). The company reserves the right to accept oversubscriptions in the Tranche 2 component of the placement.

General placement investors will be settled mainly in placement tranche 1 or the block trade at the same time, with some component in placement tranche 2, settled at the offer price of AUD$0.054.

The capital raising will comprise of,

A Premium Flow Through Placement at an issue price of ~A$0.074 being a 36.5% premium to the offer price. GBA Capital will facilitate the sale of shares to eligible investors at the offer price of A$0.054 per share.
A Traditional Flow Through Placement at an issue price of ~A$0.065 being a 20% premium to the offer price. GBA Capital will facilitate the sale of shares to eligible investors at the offer price of A$0.054 per share.
Placement shares at an issue price of A$0.054.

Company Summary

Aumega Metals Limited (ASX: AAM|TSXV: AUM|OTCQB: AUMMF) is an exploration and development company focused on discovering and developing high-grade gold and antimony resources in Newfoundland, Canada. The company boasts a district-scale land package along the Cape Ray Shear Zone (CRSZ), a proven multi-million-ounce gold structure that presents significant potential. Backed by a “blue-chip” shareholder register, led by B2Gold, and a top-tier management team with extensive exploration and development experience, AuMEGA is strategically positioned to deliver value through systematic exploration of its high-priority projects.

Cape Ray Gold Project (Au)

The Cape Ray Project is Aumega ’s flagship asset, located along the Cape Ray Shear Zone, known for its multi-million-ounce gold potential. The project hosts indicated resources of 6.2 Mt @ 2.25 g/t Au for 450 koz and inferred resources of 3.5 Mt @ 1.4 g/t Au for 160 koz. The resource remains open down-plunge and along strike, providing significant potential for future resource expansion. The project is strategically positioned with a pipeline of exploration targets, with ongoing diamond drilling expected to add further ounces to the resource base.

Significant intersections from a 2024 exploration program include:

Zone 04: 3.62 g/t Au over 7 metres including 19.7 g/t over one metre
Zone 41: 1.94 g/t Au over 7.5 metres and 5.74 g/t over one metre

Hermitage Gold-Antimony Project (Au, Sb)

The Hermitage Project, located on the Hermitage Flexure, hosts one of the largest antimony anomalies in Newfoundland. This project is highly prospective for gold and antimony, with geological features akin to major global deposits such as Bendigo and Fosterville. Early-stage exploration has returned multi-gram gold values from surface samples, including 7.31 g/t Au and 2.15 g/t Au, while significant antimony pathfinders have been identified. The company plans to initiate a major drill program in 2025 to test these high-priority targets.

Malachite Project (Au, Cu)

The Malachite Project is another high-value asset in the Aumega portfolio, covering key sections of the Cape Ray Shear Zone. Recent RC drilling has identified three large mineralized zones, with follow-up diamond drilling underway. Significant results from initial exploration include 627 ppb Au and 1.99% Cu, along with a 1.2 km mineralized zone. The upcoming drill programs are expected to define these zones further and enhance the project’s prospectivity for large-scale gold and copper deposits.

Blue Cove Copper Project (Cu, Ag)

Blue Cove is an early-stage copper-silver project covering 25 km of strike length, with high-grade copper samples of up to 10.6% Cu and 91.6 g/t Ag identified from initial rock chip sampling. The project presents a low-cost, high-upside opportunity for further copper exploration, with planned exploration activities scheduled for late 2024.

Use of Funds

Exploration drilling of 10,000 to 20,000 metres
Airborne geological surveys within the resource corridor and Hermitage
Prospecting, mapping and sampling
General working capital purposes

Indicative Timetable

The dates are indicative only and are subject to change without notice. The Company and GBA Capital reserve the right to extend the Closing Date of the offer or close the capital raise early without notice. All times are in AEDT (Sydney, Australia) unless stated otherwise.

Trading Halt

Friday October 18

Bids due

12pm AEST Monday October 21

AAM resumes trading

Tuesday October 22

GBA Capital executes ASX block trade

Thursday October 31

Placement tranche 1 DvP Settlement

Thursday October 31

Allotment of Placement Shares

Friday November 1

General meeting to approve Placement Tranche 2

Early December

Settlement & Allotment of Placement Tranche 2

Early December

Documents & Downloads

Broker Snapshot

Investor Presentation

Term Sheet

Board & Management

Justin Osborne

Non-Executive Chair

Mr Osborne, based in Perth, has over 35 years’ experience as an exploration, mining and development geologist, is a Fellow of the Australasian Institute of Mining and Metallurgy and holds a Bachelor of Science, Honours (First Class) from La Trobe University of Victoria.

Up until June 2021, Mr Osborne was Executive Director at Gold Road Resources (ASX: GOR) playing a pivotal role in the discovery, development and construction of the world class Gruyere Gold Mine (8Moz Au), which currently produces approximately 350,000 oz Au per annum.

Mr Osborne previously held senior positions on the exploration executive team of Gold Fields Ltd, including Vice President Development Strategy – Growth and International Projects, and General Manager Near Mine Exploration covering all international mining operations; and management roles with WMC Resources at the Kambalda Nickel and St Ives Gold operations.

Mr Osborne is also a Non-Executive Director at IGO Limited (ASX:IGO), Hamelin Gold Limited (ASX:HMG) and Astral Resources NL (ASX:AAR).

Sam Pazuki

CEO & Managing Director

Mr Pazuki is based in Toronto and has over 20 years of mining industry experience in senior leadership positions. He joined AuMEGA as CEO / MD after nearly ten years with previously dual-listed OceanaGold Corporation (TSX: OGC), where he led the Investor Relations and Corporate Development functions.

Prior to OceanaGold, Mr Pazuki advised major mining companies, including BHP Billiton, as a management consultant within Ernst & Young’s Advisory Services practice in Toronto, and was part of a team that helped establish a Climate Change and Sustainability practice for the firm. Mr Pazuki is a member of the Professional Engineers of Ontario and has a Bachelor of Engineering Degree and a Masters of Finance.

Mr Pazuki’s extensive global capital markets network and gold industry leadership expertise allows AuMEGA to leverage its current and future success as it grows the business, successfully advances its Newfoundland portfolio and expands the Company’s shareholder base in North America.

Dr Nicole Adshead-Bell

Non-Executive Director

Dr Adshead-Bell is a highly experienced mining executive, with a successful career spanning over 25 years. She was most recently the CEO and Managing Director of Beadell Resources Ltd (ASX:BDR), an ASX-listed company prior to its acquisition by Great Panther Mining Ltd (GPR:TO / GPLDF) in March 2019.

Prior to this, Dr Adshead-Bell was Director of Mining Research at Sun Valley Gold LLC, a global precious metals fund, and Managing Director at Haywood Securities Inc. In addition to her position at AuMEGA, Dr Adshead-Bell is President of Cupel Advisory Corporation, a Canadian corporate advisory firm she co-established which has successfully raised ~C$1.8Bn in equity and debt financings.

She is also a Non-Executive Director of Altius Minerals Corp. (ALS.TO), a diversified royalty company based in St John, Newfoundland, Canada; and Dundee Precious Metals (DPM.TO). Dr Adshead-Bell is also Non-Executive Chair of Hot Chili Limited (HCH.AX / HCH.B).

Kerry Sparkes

Non-Executive Director

Mr Sparkes has over 35 years’ experience in the mineral exploration business as both an exploration geologist and executive. His career has included the exploration, delineation and development of two major Canadian deposits, both of which were the subject of takeovers.

Mr Sparkes is currently President of Sparrowhawk Consulting, having recently retired after 7 years as VP Geology, for Franco-Nevada Corp. Previous positions included Vice-President-Exploration, at Rainy River Resources Ltd., Vice-President-Exploration, at Messina Minerals Inc., Senior Geologist at Voisey’s Bay Nickel Co. Ltd., Exploration Manager of Archean Resources Ltd. as well as President of Sparkes Consulting Inc.

Mr Sparkes has previously held a number of board seats, including the board of directors of Sphinx Resources Ltd., Knight Metals Ltd., and was a founder and director of Orla Mining Ltd. Mr Sparkes currently sits as a director of Aurion Resources Ltd and Prime Mining Corp.

He received both his undergraduate and graduate degrees from the Memorial University of Newfoundland.

Disclaimer

This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of AuMEGA Metals Limited. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein are provided to recipients on the clear understanding that neither Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose, and Liquidity does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial, or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed, and neither that part or provision nor its severance will affect the validity or enforceability of the remaining parts or provisions.

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