Woomera Limited
CLOSED

FOR SOPHISTICATED AND PROFESSIONAL INVESTORS ONLY - Woomera Mining Limited (‘WML’) has a binding acquisition agreement for an initial 80% interest in the Mt Venn gold tenements located in the north eastern goldfields of Western Australia.

CLOSED 05 August 2019
Share Price: $0.025Min Parcel: $5000Type: Ordinary ShareCode: WML
Key points

Woomera Mining Limited (‘WML’) has a binding acquisition agreement for an initial 80% interest in the Mt Venn gold tenements located in the north eastern goldfields of Western Australia. Viewed as a top tier gold exploration project covering almost the entire Mt Venn Greenstone Belt (~50km of strike), the area is rapidly becoming a major gold district; adjacent to Gold Road Resources’ (ASX:GOR) established, world-class 6 million ounce Gruyere deposit. The geological setting of Mt Venn is analogous to Gruyere, yet it has received very little systematic gold exploration making the project a compelling opportunity 

 

  • Mt Venn Project: extensive ground position, widespread goldvvanomalism, several high grade gold targets, “Gruyere” look alike targets
  • Previously too remote (and lack of water) creating a significant barrier to systematic exploration. Gold Road/Gruyere discovery in 2009 changed this (well-maintained road, sealed airport, etc)
  • WML has been allocated up to $582k in tax credits pursuant to the ATO’s JMEI Scheme. Subject to conditions, investors would receive $0.00439 per share as a tax credit for FY2020 ITR

Term Sheet and Application Details will be emailed to Wholesale investors.