MM1 - Midas Minerals

[System]

Midas Minerals Limited is an Australian mineral exploration company incorporated on 23 March 2018 with a focus on the discovery of gold, platinum group elements (PGE), nickel, copper and other base metal mineral assets in the Eastern Goldfields and Murchison regions of Western Australia.

The Weebo Gold Project consists of 9 granted exploration licences, 2 exploration licence applications and one granted prospecting licence, totalling 198km2 of tenure. The project is prospective for gold and nickel, as shown from anomalous to significant exploration results from previous limited activities.

The Challa Project consists of 2 granted exploration licences totalling 420 km2 and 3 exploration licence applications totalling 439 km2 (being the Challa Tenements). The Challa Project is prospective for gold, PGE’s, copper, and nickel as shown by the anomalous results in previous limited exploration activities carried out, and historic gold production records.

The Sunset Project comprises 1 granted prospecting licence of 1.2km2 of tenure. The Sunset Project is prospective for gold, based on historic gold production. With no records or field evidence for any previous drilling, this is one of the very few Western Australian Goldfields prospects to remain untested by modern exploration.

It is anticipated that MM1 will list on the ASX during September 2021.

Midas Minerals Ltd | Mineral Exploration Company in Western Australia

Midas Minerals is an emerging mineral exploration company focused on advancing projects in the Yilgarn Craton of Western Australia.

www.midasminerals.com

 

[Dona Ferentes]

Listing date	7 September 2021 11:00AM AEST ##
Company contact details	https://midasminerals.com/ Ph: 08 9489 2670
Principal Activities	Exploration and Mining
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	MM1
Capital to be Raised	$6,000,000
Expected offer close date	10 August 2021
Underwriter	Not underwritten. Canaccord Genuity (Australia) Limited (Lead Manager)

 

[Joules MM1]

Listing date	7 September 2021 11:00AM AEST ##
Company contact details	https://midasminerals.com/ Ph: 08 9489 2670
Principal Activities	Exploration and Mining
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	MM1
Capital to be Raised	$6,000,000
Expected offer close date	10 August 2021
Underwriter	Not underwritten. Canaccord Genuity (Australia) Limited (Lead Manager)

a sign of confidence not having an underwriter, @Dona Ferentes ?

 

[Dona Ferentes]

a sign of confidence not having an underwriter, @Dona Ferentes ?

wouldn't think so. No-one wanting to take the risk, more likely. And the people behind it probably don't want to give away 5-10% of the capital raised for the privilege

Just as an observer, and I could well be guessing, these small IPOs in the exploration space are usually done by players who have done it before.... a well-worn route. Main thing is to get 400 investors on board, I think that is the minimum number of shareholders. As well as satisfying the Listing Rules. If it takes a while then it takes a while. (about 50% of recent minnow IPO raisings have been later than original nominated Listing date, often by a few weeks or even more).

 

[Joules MM1]

wouldn't think so. No-one wanting to take the risk, more likely. And the people behind it probably don't want to give away 5-10% of the capital raised for the privilege

Just as an observer, and I could well be guessing, these small IPOs in the exploration space are usually done by players who have done it before.... a well-worn route. Main thing is to get 400 investors on board, I think that is the minimum number of shareholders. As well as satisfying the Listing Rules. If it takes a while then it takes a while. (about 50% of recent minnow IPO raisings have been later than original nominated Listing date, often by a few weeks or even more).

Canacord generated $CAN1.2BB w 72BB under management, so $AUD6mm not asking a lot to protect for the sub (?)

 

[Dona Ferentes]

Canacord generated $CAN1.2BB w 72BB under management, so $AUD6mm not asking a lot to protect for the sub (?)

They're just a broker. Get a clip (1-1.5% depending) for what they can move out the door, through their retail networks.

 

[Dona Ferentes]

MM1 : Listing today; opened well at 25c and peaked in first minute at 29c, then vol and interest dropped away ... now down to 21c, only just above the IPO price.

 

[frugal.rock]

2 please explains for MM1 in April. Chart has come to life.
Will have to read the 4th April option announcement.
I'm wondering if this is a mutt?, and, it seems to have an association with the short lived, now delisted cow lithium, but not sure there?
Initial instinct is caution.
Small MC, not a lot of shares on issue it seems?
Chart from inception.

 

[noirua]

Midas Minerals (ASX:MM1) branches into Canada with potential acquisition of Greenbush lithium project​

Midas Minerals (ASX:MM1) branches into Canada with potential acquisition of Greenbush lithium project

Midas Minerals (ASX:MM1) has made its first move outside of Western Australia to take over the Greenbush lithium project in Ontario, Canada.

themarketherald.com.au

The company will pay C$65,000 (A$70,000) for the right to acquire a 100 per cent interest in Greenbush and several other tenements that total 106.2 square kilometres.

Under the purchase agreement with the private sellers, Midas can then elect to pay a further C$65,000 within 12 months to acquire a 100 per cent interest in any or all of the tenements.

Live charts: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^MM1&p=0&t=1

https://uk.advfn.com/p.php?pid=staticchart&s=ASX^MM1&p=4&t=1

https://uk.advfn.com/p.php?pid=staticchart&s=ASX^MM1&p=6&t=1

 

[Dona Ferentes]

lithium has been on a bit of a slide and out of favour, MM1 has moved down but not out. now 8.2c after a faltering run to 10c
.

Midas defines strong untested gold and copper anomalism at Newington, WA​

Highlights
▪ Strong gold and copper anomalies in auger geochemical sampling at Newington, WA
▪ Sampling at Hawthorn prospect highlights multiple anomalies over 500m strike, returning up to 1,560ppb (1.56g/t) gold at surface
▪ Midas has defined high priority gold anomalies on five additional, previously undrilled prospects
▪ Strong copper anomalism at two prospects, both represent priority drill targets
▪ Recent mapping and rock-chip sampling results confirm a new lithium pegmatite discovery
▪ Detailed ground gravity survey defines pegmatite target zone in Kawana area
▪ Drill planning for the Newington Project is underway.