Buxton Resources Limited

Buxton Resources Limited (ASX:BUX)

Offer Price

A$0.0250

per share

Offer Size

A$2,500,000

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Placement

Buxton Resources Limited (ASX:BUX)

BUX1

Lead Manager

Offer Price

A$0.0250

per share

Offer Size

A$2,500,000

Placement

Buxton Resources Limited

Offer Details

Issue Price (Per Share)

A$0.0250

Discount

-8.70%

Offer Size

A$2,500,000

Shares Available

100,000,000

The Company is seeking to raise approximately A$2.5 million (before costs) in a two-tranche placement via the issue of approximately 100.0 million fully paid ordinary shares in the Company (“New Shares”) (the “Placement”, or the “Offer”), comprising:

  • Tranche 1 to raise approximately A$1.1 million through the issue of approximately 44.6 million New Shares under the Company’s available placement capacity pursuant to ASX Listing Rules 7.1 and 7.1A (“Tranche 1”); and
  • Tranche 2 to raise approximately A$1.4 million through the issue of approximately 55.4 million New Shares, which will be subject to and conditional upon the receipt of shareholder approval to be sought at an Extraordinary General Meeting (“EGM”), expected to be held in mid-May (“Tranche 2”).

The Company reserves the right to accept oversubscriptions in the Placement of up to an additional A$0.5 million in Tranche 2.

The New Shares will be listed on ASX and will rank pari passu with the existing fully paid ordinary shares in the Company.

Lead Manager: Argonaut

Company Overview

Buxton Resources is currently focused on advancing their 100% owned Centurion, Madman and Graphite Bull projects, located in Western Australia whilst managing the exploration of Copper Wolf, a Joint Venture with IGO in Arizona.

Centurian (100%) (Cu/Au)

  • Strong magnetic and gravity anomalies over 17.5km2 consistent with major Iron Oxide Copper Gold deposits such as Olympic Dam and Prominent Hill
  • Situated in the structurally favourable West Arunta region, supported by promising exploration indicators

Madman (100%) (Au)

  • Sits on a highly prospective geological structure, with previous sampling and mapping suggesting extensive gold and copper mineralisation
  • Potential to be a multi-million-ounce, shallow, Havieron-style deposit located within the mineral-rich Paterson Orogen province

Copper Wolf (BUX (30%) / IGO (70%)) (Cu)

  • Situated in the prolific North American porphyry copper province with historical Resource estimates confirming a significant copper-molybdenum system
  • IGO recently elected to earn-in a further 19% by spending $5.35M over 3 years with a focus on assessing the feasibility of high-grade porphyry mineralisation at depth

Use of Funds

The Company has confirmed to the Lead Manager that funds raised pursuant to the Offer will be applied towards:

Use of Funds

Application

1

Exploration and development activities at the Centurion & Madman projects;

2

Ongoing project assessments; and

3

Working capital purposes.

Indicative Timetable

The below dates are indicative only and maybe be subject to change without notice.

Trading halt

Pre-market, Thursday, 3 April 2025

Firm bids for Placement due

2:00pm (AWST) Thursday, 3 April 2025

Confirmation letters and CARD Forms to be returned

6:00pm (AWST) Thursday, 3 April 2025

Announcement of the results of the Placement and resumption of trading

Monday, 7 April 2025

Anticipated Placement DvP settlement date for Tranche 1

Friday, 11 April 2025

Anticipated EGM

Mid-May 2025

Anticipated Placement DvP settlement date for Tranche 2

Mid-May 2025

Documents & Downloads

Board & Management

Gervaise Heddle

Gervaise Heddle

Non-Executive Chair

Gervaise Heddle CFA is the former Chief Executive Officer of Greatland Gold plc (May 2016 – March 2021). Gervaise led Greatland through the acquisition and discovery of the Havieron gold/copper deposit in Western Australia and was instrumental in establishing a joint venture with Newcrest Mining Limited for development of the deposit. During his tenure as CEO, the Greatland share price rose by over 10,000% (over 100 times). ​

Previously, Gervaise was a Division Director at Macquarie Funds Group , Fund Manager and Director at Merrill Lynch Investment Managers in the Princeton and London offices. ​

Gervaise graduated with First Class Honours in Economics and a Degree in Arts (Jurisprudence) from the University of Adelaide, Australia. Gervaise is a CFA charterholder.​

Stuart Fogarty

Stuart Fogarty

Non-Executive Director

Mr Fogarty has over 20 years of exploration experience with BHP Billiton and Western Mining Corporation. Stuart was BHP’s Senior Exploration Manager for North and South America. Mr Fogarty has a very strong background in nickel exploration, having commenced his career at Kambalda Nickel Operations in 1994. He has had senior roles with BHP including Senior Geoscientist for nickel exploration in the Leinster and Mt Keith region, Project Manager WA Nickel Brownfields and Regional Manager Australia – Asia where he was responsible for $100 million per annum exploration budget​

Mr Fogarty currently serves as the Managing Director of Duketon Mining (ASX:DKM). Show less

Jared Jacob

Jared Jacob

Non-Executive Director

Jared has 20 years of corporate development experience and served as Head of Business Development at IGO Limited 2023 – 2025. ​

Previously he was Head of Mergers & Acquisitions at OZ Minerals (from 2016 until BHP acquired OZ Minerals in 2023). Prior to 2016, Jared held various in-house strategy and M&A, principal investments and corporate advisory roles at UGL Limited, Deutsche Bank, Barclays Capital, Credit-Suisse and PricewaterhouseCoopers both domestically and internationally.​

Jared is a member of the Institute of Chartered Accountants in Australia, a Fellow of the Governors Leadership Foundation in South Australia and his qualifications include a B.Com (Accounting & Commercial Law) from the University of Sydney and a Grad. Dip., CA.​

Martin Moloney

Martin Moloney

CEO

Mr Moloney is a geologist with experience in minerals exploration for a variety of commodities including Au, Ag, Cu, Mo, Pb / Zn, U, Sn, Ni and graphite. He has extensive resource project management experience from greenfields to resource definition in a variety of jurisdictions. ​

Martin has worked for major mining houses (Mt Isa Mines), junior explorers (Thundelarra), junior developers (Dalradian Gold), mid-tier producers (Iluka), a boutique generative consultancy, in private equity, plus with a number of geophysical and related technical service providers to the mining industry.​

Mr Moloney joined Buxton in April 2019 as Chief Geologist and transitioned to Chief Executive Officer on 9 August 2024.​

Sam Wright

Sam Wright

Company Secretary

Founder and Managing Director of Straight Lines Consultancy, an advisory business providing services to ASX listed companies. Sam has extensive experience in relation to public company responsibilities, including ASX and ASIC compliance, control and implementation of corporate governance, statutory financial reporting and shareholder relations with both retail and institutional Investors.​

Sam is currently a director of ASX listed companies; Great Dirt Resources Ltd, Reach Resources Ltd and Structural Monitoring Systems Plc. Mr Wright is also currently Company Secretary for ASX and London Stock Exchange dual listed company, Resolute Mining Ltd.​

Sam has also filled the role of Director and Company Secretary with companies in Australia, North America and the UK.​

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 Buxton Resources 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 is provided to recipients on the clear understanding that 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 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 or its severance will affect the validity or enforceability of the remaining parts or provisions.

Disclosure of Interest: Liquidity receives commission from dealing in securities and its introducers of business may directly share in this commission. Liquidity and its associates may hold shares in Buxton Resources Limited.

Buxton Resources Limited

Placement

Buxton Resources Limited (ASX:BUX)

BUX1

Offer Price

A$0.0250

per share

Offer Size

A$2,500,000

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