Barclay Pearce Capital
- Mar 2, 2021
- 2 min read
Private Placement - Locksley Resources Limited
Locksley Resources is an unlisted Australian mineral exploration company focused on identifying and assessing resource opportunities within Australia.
Barclay Pearce Capital is acting as Lead Manager to Locksley Resources on its A$640,000 Pre-IPO raise via a private placement of ordinary shares.
About Locksley
Locksley Resources is an unlisted Australian mineral exploration company focused on identifying and assessing resource opportunities within Australia. The company is currently exploring and developing its flagship asset, the Tottenham Project, an advanced and greenfield Copper (Cu) asset located within the Lachlan Fold Belt in Central NSW. The exploration licenses were recently acquired from Mincor Resources (70%) and Bacchus Resources (30%) in exchange for an equity stake in the company to be issued upon listing on the ASX.
Offer Details:
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A$640,000 via the issue of 4,000,000 ordinary shares at $0.16 each.
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Pre-money valuation of A$1,120,000.16.
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The Company reserves the right to accept over-subscriptions at its discretion.
Investment Highlights:
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The Tottenham Project is located within the Cobar-Girilambone district in Central NSW and consists of three exploration licenses with two resource level deposits at Carolina and Mount Royal.
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A JORC 2012 report Indicated and Inferred resources of 7.37 Mt @ 1.2% Cu and 0.4g/t Au, for 86,100 tonnes of contained copper and 90,600 oz of contained gold.
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Significant exploration upside with historic prospects from Bogan River (3m @ 18.1% Cu and 8m @ 1.5% Cu) and Underlay (2m @ 3.7% Cu and 4m @ 1.4% Cu) requiring further testing.
The funds will be used to progress the company to an ASX IPO in Q2 CY21.
The Offer is available to Australian Sophisticated and Professional Investors only.
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