Lukin Resources Limited

PublicIPO
Offer Live
  • Type: IPO
  • Total Round Size (min): AUD$2,000
  • Total Round Size (max): AUD$500,000
  • Price per share: A$0.20
  • Lead manager: Novus Capital
Required

Lukin Resources Limited (LKN.AX) is a mineral exploration and development company that has a portfolio of mineral and metal exploration assets within proven provinces in Australia and South Africa at various stages of development.

Offer Live

Lukin Resources ASX Listing

Lukin Resources Limited (LKN.AX) is a mineral exploration and development company that has a portfolio of mineral and metal exploration assets within proven provinces in Australia and South Africa at various stages of development.

LKN (ACN: 606 084 075) is completing an ASX listing as per the prospectus attached below.

The public offer in this prospectus is to list on the ASX (proposed code LKN.AX) through an offering of a minimum of 27,500,000 shares at $0.20 each to raise $5,500,000 (before costs), with a maximum of 37,500,000 shares at $0.20 each to raise $7,500,000.

While investors are taking an allocation, Equitise reserves the right to scale back larger investments.

This offer is closing at 5pm AEST this Friday 1st October.

    Lukin Resources Limited Prospectus

    Company Overview

    Lukin Resources Limited (ACN 606 084 075) (LKN.AX) is an Australian unlisted public company incorporated on 27 May 2015 to pursue opportunities in the resources sector and build shareholder value by acquiring, exploring, evaluating and exploiting mineral resource projects.

    The Company intends to focus on exploration and where appropriate, development of its Projects for gold, copper, zinc, lead, silver and other metals. The Company’s aim is to build shareholder value by acquiring, exploring and exploiting its mineral resource projects (including the Projects).

    The Company has interests in two Australian Projects, namely:

    Ebagoola South

    Located 62 km South of the town of Coen, on the Cape York Peninsula in Queensland, by way of a right to earn up to a 51% interest (with a possibility of increasing it to 60%) pursuant to the AMC Farm-in and Option Agreement (summarised in Section 8.1).

    Stratmin

    A 100% interest in the Stratmin Project, located in the Hodgkinson Province of Northeast Queensland.

    The Company has interests in three South African Projects, all located in the Northern Cape Province, namely:

    Vaalkop

    A 74% interest in the Vaalkop Project, located 530 km north of Cape Town. The nearest towns are Pofadder, 80 km to the northwest and Kakamas, 80 km to the northeast.

    KOA

    A 74% interest in the Koa Project, located 550 km northeast of Cape Town and 15 km southeast of Orion Minerals NL (ASX:ORN) ‘Prieska Project’ at Copperton. The nearest towns are Prieska, 60 km to the northeast and Vosburg, 35 km to the southeast.

    Bushy Park (50%)

    A 50% interest in the Bushy Park Project, located 740 km northeast of Cape Town and 540 km southwest of Johannesburg. The nearest town is Griquatown, 25 km to the southwest.

    Key Offer Statistics

    Proposed Exploration Budget

    The Company proposes to fund its intended activities as outlined in the tables below from the proceeds of the Offer. It should be noted that the budgets will be subject to modification on an ongoing basis, depending on the results obtained from exploration undertaken. This will involve an ongoing assessment of the Company’s Project interests and may lead to increased or decreased levels of expenditure on certain interests, reflecting a change in emphasis.

    Subject to the above, the following budgets are proposed that take into account the proposed expenses over the next two years to complete initial exploration of the Projects.

    Proposed Use of Funds

    Please see section 5.3 of the Prospectus for more information

    Important Information

    You are encouraged to carefully read and consider the attached prospectus for the offer. The Company and any associated investment carry a number of key risks that are detailed in Section 7 of the prospectus.

    The issuer making this offer is Lukin Resources Limited. A person should consider the prospectus in deciding whether to acquire securities. Anyone who wants to acquire securities will need to complete the application form that will be in or accompany the prospectus on the Equitise platform.

    This offer is being made by Equitise (CAR) Pty Ltd as Corporate Authorised Representative of OpenMarkets Australia Limited ACN 090 472 012 ASFL 246705