AGC - Australian Gold and Copper

[Dona Ferentes]

Third time lucky? AGC turns up in Delisted.com.au twice

AGINCOURT RESOURCES LIMITED	AGC	ASX	Delisted
AUSTRALIAN GUARANTEE CORPORATION LIMITED	AGC	ASX	Delisted

AUSTRALIAN GOLD AND COPPER LIMITED

We are pleased to launch the IPO for Australian Gold and Copper Limited (AGC or the Company). AGC is seeking to raise up to a maximum of A$10 million (subject to a minimum of A$7 million) of primary capital. Taylor Collison is acting as Sole Lead Manager and Bookrunner to the Offer.

The Prospectus is available to download at https://www.austgoldcopper.com.au/

WHAT WE LIKE ABOUT AGC:

• Valuation: $10m pre-money valuation is compelling given quality and location of portfolio
• Assets: 3 projects, 1,000km² and 7 walk-up, near surface drill targets
• Location: Lachlan Fold Belt – hosts several multi-million ounce gold deposits
• Quality & Diversity: The 7 identified drilling targets defined by historic workings, drill intercepts, outcropping, surface Geochem and geophysics – there are multiple data sets defining these targets
• News Flow: Extensive drill program expected to commence in January 2021 (AGC has already secured a rig) with an anticipated 5,000m of drilling in first 8 months. The rig will rotate amongst the drill targets whilst awaiting asays
• Team: Highly experienced with strong track record of discoveries

OFFER DETAILS

Key Offer Statistics
Cash Offer Price	$0.20 per Share​
Securities Offered	Min 35 million, Max 50 million​
Gross cash proceeds from the Cash Offer	Min $7 million, Max $10 million​
Total number of Shares on issue on Completion of the Offer	Min 85 million, Max 100 million​
Indicative market capitalisation at the Cash Offer Price (post Offer completion)	Min $17 million, Max $20 million​
Pro Forma net cash on Completion of the Offers (Section 5 Prospectus)	Min $6.2 million, Max $9.0 million​

• AGC’s projects are contributed by Magmatic Resources (MAG) and New South Resources (NSR) at a valuation of $10.0 million. There will be an 80% in-specie distribution of AGC shares to MAG and NSR shareholders, with the remaining 20% held by MAG and NSR. The large majority of the vend will be subject to escrow - see page 3 of the term sheet for details of relevant shareholdings and escrow.
• The Offer is conditional upon the satisfaction (or waiver) of a number of conditions including: obtainment of MAG and NSR demerger approval, AGC obtaining ministerial approvals relating to the transfer of the tenements under the Mining Act and AGC obtaining a conditional admission letter from the ASX. Further detail on these conditions are outlined in prospectus.

Indicative Timetable
Lodgement of Prospectus with ASIC	18 November 2020​
Opening Date of Offer	26 November 2020​
Firm Bids Due	11 December 2020​
Closing Date of the Priority Offer (unless closed early)	15 December 2020​
Closing Date of Offer (unless closed early)	18 December 2020​
MAG AGM – Demerger Approval	18 December 2020​
Effective Date of Capital Return	22 December 2020​
Settlement Date of Offer	24 December 2020​
Allotment Date of Shares	31 December 2020​
Expected date for dispatch of holding statements	4 January 2021​
Expected commencement of trading on ASX	5 January 2021​

DISCLOSURE: Taylor Collison Limited ABN 53 008 172 450, holder of AFS Licence Number 247083, and an ASX Market Participant. Taylor Collison Limited believes that the information contained in this document has been obtained from sources that are accurate, but has not checked or verified this information. Except to the extent that liability cannot be excluded, Taylor Collison Limited and its associated entities accept no liability for any loss or damage caused by any error in, or omission from, this document. This document has been prepared for informational purposes only and does not purport to provide advice in relation to any investment product.

 

[Dona Ferentes]

Listing today.

Some sponsored publicity

Drill rig on standby in NSW as Australian Gold and Copper makes ASX debut

Australian Gold and Copper (AGC) is ready to fire the metaphorical starting gun on a drilling campaign in New South Wales’ prospective Lachlan Fold Belt following its oversubscribed initial public offering (IPO).

smallcaps.com.au

 

[Dona Ferentes]

not a bad start; listed yesterday at 20c

5 min chart:

 

[Dona Ferentes]

drill ready Au Cu prospects in Lachlan Foldbelt. Surface workings, old drillings new IPO. Good team,

My pick for Feb Comp

 

[noirua]

Australian Gold and Copper (ASX:AGC) hits shallow and broad zones of gold at Gundagai, NSW

Australian Gold and Copper (ASX:AGC) has hit shallow and broad zones of gold in the first round of drilling at its Gundagai project in New South Wales.

themarketherald.com.au

Australian Gold and Copper (AGC) has hit shallow and broad zones of gold in the first round of drilling at its Gundagai project in New South Wales.

The maiden drilling program was downsized due to inclement weather and wrapped up on the completion of six drill holes at the Grandview gold target, all of which hit gold mineralisation.

Despite the early finish, the company said the gold grades were “encouraging”, returning up to 5.9 grams per tonne (g/t), with the widest intersection being 111 metres at 0.2 g/t gold from 55 metres downhole.

 

[divs4ever]

Transformational $10.1M investment to advance AGC’s exploration portfolio
 Transformational $10.1 million strategic capital investment by Delin Mining Group Cooperation Limited (Delin)
 The investment will allow AGC to accelerate exploration of its portfolio, including the five drill ready targets at the South Cobar Project
 Placement of 122,222,222 new shares at $0.082636 per share represents a significant premium above yesterday’s closing price of $0.057  Following completion of the Placement, and subject to shareholder approval, Delin will hold 55% of the issued share capital of AGC
 Upon signing the agreement, AGC received a $200,000 deposit from Delin
Australian Gold and Copper Ltd (ASX: AGC) (“AGC” or the “Company”) is pleased to announce it has entered into a binding Subscription Agreement with Delin Mining Group Cooperation Limited (“Delin”), whereby Delin will subscribe for 122,222,222 new fully paid ordinary shares (“Shares”) at $0.082636 per Share (“Placement Shares”).
The Subscription Agreement will provide the Company a $10.1 million capital injection (“Strategic Investment”) following satisfaction of conditions including shareholder approval.

Commenting on the Strategic Investment, AGC Chairman, Mr David Richardson said: “In the current climate where the cost of capital is high, this investment represents exceptional value for all our shareholders. The significant premium to market price is clear evidence of the attractiveness of the drill ready targets in our South Cobar Project.
We look forward to this transformational Strategic Investment and welcome Delin as a new major shareholder.” Delin’s Chairman, Mr Zhang Yong said: “We are pleased to make this strategic investment in AGC and are excited about AGC’s portfolio of exploration projects. We look forward to supporting AGC to further the advancement of these gold projects, and to providing a bridge between the Australian mining industry and Southeast Asia in the future together with AGC.” AGC is currently searching for gold-copper deposits in the Cobar Basin, which is host to the high-grade CSA copper mine. AGC’s Board have approved a maiden drill program to test the high priority Hilltop Target.
This program is now planned to commence on completion of the Strategic Investment.
2 The Strategic Investment also provides a pathway to aggressively explore the four other drill-ready South Cobar targets identified at Achilles and Planet.
Funds raised from the issue of Placement Shares will also be applied towards advancing AGC’s other NSW projects and general working capital and any other ancillary purpose.

About Delin Mining Group Cooperation Limited (Delin) Delin is a Hong Kong registered investment company based in Hong Kong. Delin aims to build an investment portfolio across the mining industry, and this is their first investment in Australia.

Board Appointment Upon completion of the Strategic Investment transaction, the Company will appoint Mr Zhang Yong to the Board as Co-Chairman. Mr Zhang will be appointed to the Board of AGC as a nominee of Delin.
Completion of the Strategic Investment is subject to the following material conditions:
(a) Delin conducting and being satisfied with the results of due diligence on the Company;
(b) AGC obtaining any shareholder approval required for the allotment and issue of the Placement Shares;
(c) AGC and Delin obtaining any authorisations required to give effect to the agreement; and
(d) There being no material adverse effect taking place up until the time all other conditions have been met. The issue of the Placement Shares is subject to AGC obtaining shareholder approval under item 7 of section 611 of the Corporations Act 2001 (Cth) (“Corporations Act”).
The necessary shareholder approvals will be sought at a General Meeting to be held on or around 28 November 2023.
A notice of meeting, accompanied by an independent expert’s report, will be provided to shareholders in due course.
On completion of the Strategic Investment, and for so long as Delin (by itself or by a Wholly-owned Subsidiary) holds at least 50.0% of the fully paid Shares of the Company (Minimum Shareholding),
then the Delin shall be entitled to:
(a) nominate for appointment 50% of the members of the board of directors of the Company (Nominees); and
(b) require one of the Nominees to be chairman of the board of directors of the Company.
Delin must use all reasonable endeavours to retain for the benefit of the Company and its shareholders:
(a) the current members of the Board; and
(b) the current senior management personnel, for not less than the 18-month Standstill Period and for as long as reasonably practicable.

i do not hold this share

not one for me ... all looking and no mining

 

[noirua]

April 23, 2024.

Australian Gold And Copper Ltd (ASX:AGC) Share Price | Latest News - The Market Online

Discover the latest ASX:AGC share price news, today's movements and market info at The Market Online – First with the news that moves markets.

themarketonline.com.au

 

[Dona Ferentes]

gold , copper, Ag see

Achilles Delivers Outstanding Gold and Silver Results
- 5 metres at 16.9g/t gold, 1,473g/t silver* & 15.0% lead+zinc
- Max. grades of 45.0g/t gold, +3,000g/t silver* & 38.8% lead+zinc
... the follow-up drilling program comprising nine reverse circulation holes for 1,461 metres has now been completed at Achilles. This drill program covered over half a kilometre of strike and has extended
mineralisation beyond the discovery holes recently reported.

Laboratory analyses from the first holes drilled were expedited, with results extending and significantly upgrading high-grade gold-silver-base metal mineralisation down dip and along strike.

up 100 per cent , coming off the TH

 

[finicky]

See div's post:

Surrendered control to the CCP (Delin is out of Hong Kong, the CCP owns HK)
Let's see how that now works out for Australian shareholders.

Not Held

 

[Dona Ferentes]

another 25 per cent today

AGC announces the final gold result for A3RC031 from the 123-124 metre interval has been returned at 7.4g/t gold. This is considered an addendum to yesterday’s announcement (AGC ASX 15 May 2024).
A3RC031 returned:
• 4m at 2.3g/t Au, 545g/t Ag, 0.2% Cu, 2.9% Pb+Zn from 123 metres
• Including 1m at 7.4g/t Au, 1,975g/t Ag, 0.6% Cu, 5.1% Pb+Zn from 123 metres
• and occurs within 11m at 1.0g/t Au, 209g/t Ag, 0.2% Cu, 2.6% Pb+Zn from 122 metres

 

[Dona Ferentes]

still heading higher, got to 35c.... and the ASX expressed an interest

1. Does AGC consider the information contained in the Announcement, being the assay results from the 9 completed RC drill holes at the Achilles project, to be an information that a reasonable person would expect to have a material effect on the price or value of its securities?
Yes. For clarification, the Announcement disclosed assay results from three (3) reverse circulation drill holes completed at the Achilles project. The Announcement separately advised that the drilling program of 9 RC holes had been completed at Achilles. Results for the remaining 6 RC holes are yet to be received from the laboratory.
2. N/A
3. When did AGC first become aware of the information referred to in question 1 above? In answering this question please specify the date and time when:
3.1 AGC first received the assay results for the 9 RC drill holes completed at the Achilles project, or any part thereof; and
3.2 AGC finalised the analysis and compiling of the assay results from the 9 RC drill holes completed at the Achilles project, or any part thereof, for the purpose of preparing the Announcement.
Please answer separately for each of the items in question 3 above.

Question 3.1
AGC has received assay results for 3 RC drill holes, not 9 holes (see answer to question 1 above). The Company received the final certificate from ALS (who undertook the assaying) on Tuesday 14 May 2024 at 4.06 pm AEST. This provided the Company with the level of certainty to provide the market release ahead of market opening on Wednesday 15 May 2024. ALS has Webtrieve portal which enables assay results to be reviewed progressively. Due to QAQC, results are unverified and unapproved until approved by the ALS Lab Manager and the final ALS Certificate isreceived. Prior to this, results can and do change due to the QAQC checks, especially at high grades due to interference from other elements.
Accordingly until certificates are received, the Company considers that any information on the assays remains insufficiently definite in terms of LR 3.1A.3 to warrant disclosure to ASX, and otherwise could be construed as misleading.
Question 3.2
AGC has received assay results for 3 RC drill holes, not 9 holes (see answer to question 1 above). At 5.38pm AEST on Tuesday 14 May 2024, a draft ASX release was distributed to the Directors for review. Following this review, the announcement was approved for release at 11.20pm AEST the same day.

4. If AGC first became aware of the information referred to in question 1, or any part thereof, before the date of the Announcement, did AGC make any announcement prior to that date which disclosed the information? If not, please explain why the information was not released to the market at an earlier time, commenting specifically on when you believe AGC was obliged to release the information under Listing Rules 3.1 and 3.1A and what steps AGC took to ensure that the information was released promptly and without delay. AGC were not in a position to make an announcement prior to Wed 15 May 2024 because the official ALS laboratory certificates were only received at 4.06pm AEST on Tues 14 May 2024, which was after the market had closed. Accordingly, AGC did not make an announcement on Tues 14 May 2024 as the market was closed, and in any event, the Company was in a trading halt.

 

[noirua]

Australian Gold and Copper surges further as ASX says please explain

Australian Copper and Gold was up 12% again on Monday as it responded to a please explain from the ASX. But are its grades that good?

themarketonline.com.au

In fact, the price of copper is up just short of +40% YoY and the price hit over US$5.00/pound overnight, which is firmly over US$10,000/tn – a key psychological threshold for copper supporting bull cases everywhere.

The ultimate spark that triggered the rally was Chinese smelter output reductions earlier this year as margins suffered on weaker demand.

 

[Dona Ferentes]

running out of puff?

 

[finicky]

Looking for goldie opportunities today I started to look at this one again until I remembered the Chinese CCP controlling interest. What fools we are, continuing to sign over our gold and coal to the CCP.

In the USA 'Dr Phil' has a clip where he's showing Trump a U.S map with lots of coloured patches of farmland owned by the CCP and they're mostly next to military manufacturing and research facilities.

Joe Biden has taken money from the Chinese via his degenerate son. But Trump's accountant 'wrongly' purposed a repayment to Trumps lawyer on a ledger, let's throw the book at him prior to a POTUS election! And useful idiots are buying it as legit 'because Trump is bad anyway, so doesn't matter'.

 

[Dona Ferentes]

they're back for another spruik ... heat has gone out, time to pump again

$0.31... Achilles Au/ Ag ... 3000m RC, and then 3000m DD

- The program aims to rapidly expand on the high-grade Achilles discovery
- Drilling targeting strike and depth extensions, also the continuity of the high-grade zones
- Three additional drill targets within 2km, all drill ready, and all to be tested
- Extensive geophysics underway to test for further targets along Achilles shear zone
- Large diamond drilling program scheduled to commence early August with holes targeting high grade depth extensions