Rafaella Resources Limited
CLOSED

FOR SOPHISTICATED AND PROFESSIONAL INVESTORS ONLY - Rafaella Resources is a junior exploration company which owns the McCleery cobalt and copper project in the Yukon territory in Canada and the Sandstone gold project in Western Australia.

CLOSED 16 August 2019
Share Price: $0.20Min Parcel: $5000Type: Ordinary ShareCode: RFR
Key points

Private placement to raise a minimum of A$2.6 million at an issue price of A$0.20 (20
cents) per Share through the issue of 13,000,000 Fully Paid Ordinary Shares in the
Company.

 

Rafaella Resources is a junior exploration company which owns the McCleery cobalt and copper project in the Yukon territory in Canada and the Sandstone gold project in Western Australia. On 27 May 2019, RFR announced it had entered a Heads of Agreement (HoA) to acquire Galicia Tin & Tungsten S.L. (GTT), which owns the Santa Comba development project (Project) in northwestern Spain. 

Located in a productive tungsten and tin province, the Project is permitted for both
underground and open pit mining, with a recent JORC (2012) Inferred Resource in both
areas, completed as part of a scoping study. 

Transamine Trading SA has agreed to support the Project with 100% offtake for 3 years.
The tungsten concentrate will be sold back to back to H.C. Starck Tungsten GmbH. In
support of the supply to H.C. Starck, the German Government, subject to completion of
a positive feasibility study, has pre-approved €11M of development funding.

GTT recently discovered a large near-surface resource on the property, amenable to open
pit mining, which remains mostly undrilled. The Project offers considerable exploration
upside of between 16.2Mt – 48.6Mt grading between 0.15% - 0.23% WO3. 

The Project is located close to infrastructure, including a sealed road and three deepwater
ports.

 

Key Investment Highlights 

  • The Santa Comba Project is already permitted for underground and open pit mining and is located in a productive tungsten and tin province
  • Transamine Trading SA, the world’s oldest independent and privately owned commodities trading company, has conditionally agreed to purchase 100% of the Project tungsten and tin concentrate production for 3 years
  • Transamine Holdings and Investments has agreed to cornerstone the placement with a commitment of A$1 million
  • The vendors of Galicia Tin & Tungsten S.L. advised that they will take up A$800,000 to also cornerstone the private placement
  • Circa A$800,00 available

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