Trigg Minerals Limited

Trigg Minerals Limited (ASX:TMG)

Offer Price

A$0.0250

per share

Offer Size

A$2,000,000

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Trigg Minerals Limited

Placement

Trigg Minerals Limited (ASX:TMG)

TMG

Lead Manager

Offer Price

A$0.0250

per share

Offer Size

A$2,000,000

Placement

Trigg Minerals Limited

Key Offer Details

Issue Price (Per Share)

A$0.0250

Discount

24.24%

Offer Size

A$2,000,000

Shares Available

80,000,000

Private Placement Offer utilising the company’s existing capacity under Listing Rule 7.1 and  Listing Rule 7.1A to raise AU $2.00m with the ability to take oversubscriptions of AU $0.50m at  $0.025.

Offer to “sophisticated investors” (as defined in section 708(8) of the Corporations Act 2001  (Cth) (“Corporations Act”)) and “professional investors” (as defined in section 708(11) of the  Corporations Act), with allocation amongst such investors to be at the discretion of the  Company.

The book has received cornerstone interest from both domestic and international money managers and strategic investors. Please note that allocations will be tight and more for a PA allocation.

Company Overview

Trigg Minerals Limited (ASX:TMG) is a junior exploration and development company focused on  antimony and gold exploration in Australia. In the New England Oregen of Northern NSW, the  company is targeting ultra-high antimony (Sb) at multiple historically significant antimony  assets, including the Achilles and Taylors Arm project. The company is also engaged in gold and  antimony exploration in the Drummond Basin-Charters Towers region of Far North Queensland.

Achilles Project (Sb)

TMG has acquired its flagship Achilles, a pure-play antimony project that contains the significant  high-grade and high tonnage Wild Cattle Creek (WCC) deposit. The WCC deposit hosts Australia's  highest-grade, undeveloped antimony deposit and the second-largest resource after  Hillsgrove in NSW at 610kt @ 2.56% Sb, with 15,600 contained tonnes (1% cut-off grade). The  deposit remains open down-plunge and includes a sub-parallel high-grade zone, highlighting  additional exploration potential.  

Significant historical grades at the WCC deposit include:   • 10.7m at 14.2% Sb   • 18.7m at 4.5% Sb, including 5.2m at 9.8% Sb   • 10.8m at 9.3% Sb   • 51.2m at 1.7% Sb, including 5.5m at 4.8% Sb   • 22.5m at 3.9% Sb  

Notably, the deposit is enriched from surface for more than 300m and extends down-plunge.  The deposit also hosts a 6km-long and untested structure where mineralisation remains open  to the west. Drilling at sub-parallel zones has also delivered significant results grading up to  14.45% Sb, which has been confirmed beyond the existing JORC resource indicating significant  resource upgrades. Historical metallurgy showed high antimony recoveries of +95% are  achievable from the WCC deposit through conventional milling and sulphide (stibnite) flotation.

Taylors Arm Project (Sb)

The Taylors Arm project (EL 9668) features 71 historical workings across six minerals camps and  hosts massive stibnite veins grading up to 63% Sb (Australia's highest recorded antimony grade).  

  • The project comprises historically significant sites including:  
  • Swallows Nest Mine – extracted antimony from 1940 to 1955 at a 40% antimony (Sb) concentration and at 30% Sb on reopening in 1972. 
  • Recent rock samples revealed extremely high-grade antimony mineralisation with  grades of 29.8% Sb and 31.4% Sb 
  • Testers Mine – featured massive stibnite veins grading up to 63% Sb
  • Purgatory Mine - Historical production of 1,229t @ 42.27% Sb between 1935-1954
  • Munga Creek Mine - Historical operation in 1974, producing more than 1,100t of  antimony concentrate 
  • Little Purgatory Mine – stockpile samples produced antimony with grades up to  27.7% Sb
  • Real McKay Mine – recent exploration identified a stibnite-bearing fault breccia  hosting high-grade antimony mineralisation, reporting 15.2% Sb and 52.7% Sb.

Spartan Project (Sb)

The Spartan Project (ELA 6801) is immediately adjacent to Larvotto Resources' Hillgrove  Antimony-Gold operation Notably, the project lies on the same rocks and covers parts of the  Hillgrove fault that hosts the Hillgrove deposit.

Use of Funds

The funds raised will be focused towards: 

  • Maiden exploration and drilling preparation at Achilles Project 
  • Maiden exploration at Taylors Arm Project 
  • 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.

TMG placed in Trading Halt

Monday October 14 2024

Placement Offer Opens

Monday October 14 2024

Placement Offer Closes

4pm AEST Tuesday October 15 2024

Offer letters accepted

Tuesday October 15 2024

TMG Recommences Trading

Wednesday October 16 2024

Settlement date

Wednesday October 23 2024

Allotment of Shares

Thursday October 24 2024

Board & Management

Timothy Morrison

Timothy Morrison

Executive Chairman

Tim Morrison has more than twenty years’ experience in early stage resource company capital offerings and funding activities.  Tim has actively worked across the capital markets in both private venture funds management and public listed markets. He has been involved in raising significant capital for listed and unlisted companies in various sectors.

Bishoy Habib

Bishoy Habib

Non-Executive Director

Mr Habib holds a Bachelor’s in Applied Science (Software Eng) and has been a global investor for more than a decade, with a particular focus in the resources sector. He is a qualified and experienced leader, with over 15 years’ project delivery and management experience in large multinational organisations.

Mr Habib has a strong understanding of the resources sector, with access to a wide-reaching network and project delivery expertise across Africa, the Middle East, Europe and South America.

Nicholas Katris

Nicholas Katris

Non-Executive Director

Mr. Katris has over 15 years of experience in corporate advisory and public company management, having begun his career as a Chartered Accountant. He has been actively involved in the financial management of public companies within the mineral and resources sector, holding roles on both the Board and Executive Management teams.

His expertise spans the advancement and development of mineral resource assets, as well as business development. Throughout his career, Mr. Katris has worked across Australia, Africa, Brazil, and Canada, gaining extensive experience in financial reporting, capital raising, and treasury management for resource companies.

He currently serves as Company Secretary for Leeuwin Metals Ltd (ASX: LM1) and Perpetual Resources Ltd (ASX: PEC).

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 Trigg Minerals 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 Trigg Minerals Limited.

Trigg Minerals Limited

Placement

Trigg Minerals Limited (ASX:TMG)

TMG

Offer Price

A$0.0250

per share

Offer Size

A$2,000,000

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