Welcome to the Redstone Resources Entitlement Offer Information Portal.

We invite you to browse this page for all relevant news about the opportunity and the company.

Offer Details

Redstone Resources Limited (ASX Code: RDS) (Redstone orthe Company) is pleased to announce a partially underwritten pro rata non renounceable entitlement offer to raise up to $2,152,960 (before costs) (Entitlement Offer) based on the current capital structure of the Company.

The offer will be made to eligible holders of shares in the capital of the Company (Shareholders) the basis of one (1) new fully paid ordinary share in the capital of the Company (New Shares) for every three (3) existing fully paid ordinary shares in the capital of the Company (Share) held by eligible Shareholders on 7 September 2018 (Record Date) at an issue price of $0.017 (Offer Price) per New Share.

Shareholders will also receive one (1) free attaching option, exercisable at $0.035 on or before 30 April 2021 (New Listed Options) for every two (2) New Shares subscribed for and issued under the Entitlement Offer. An application will be made to the ASX for quotation of the New Shares and New Listed Options (together the New Securities).

Shareholders will have the opportunity to apply for additional New Shares not subscribed for under the Entitlement Offer in excess of their entitlement, together with the corresponding  number of free attaching New Listed Options, under an additional new shares offer (Additional New Shares Offer). Any New Shares that are not taken up under the Entitlement Offer or the Additional New Shares Offer will be the subject of a shortfall offer (Shortfall Offer).

Net proceeds raised from the Entitlement Offer, the Additional New Shares Offer and the Shortfall Offer (together the Offer) will be used, in conjunction with existing funds, for drilling and exploration activities on the Company’s 100% owned West Musgrave Project, located in the West Musgrave, Western Australia and for general working capital.

Investment Highlights

  • The Offer is attractively priced at a 25% discount to the July 2018 and August 2018 volume weighted average Share price and a significant discount to the last traded market price of the Shares on ASX prior to the date of the Prospectus being lodged.
  • The pre‐Offer market capitalisation of the Company at the Offer price is $6,458,882.
  • The Company owns a 100% interest in the West Musgrave Project, in the West Musgrave, Western Australia, which includes the Tollu Copper Vein Project, a potential large scale, high grade, near surface copper project.
  • Funds raised from the issue of New Shares will be used to undertake a ground electromagnetics (EM) survey over all 13 EM (VTEMmax) targets identified from the airborne survey undertaken in May 2017 and for a reverse circulation (RC) drilling programme of at least circa 7,500m to test certain of these EM targets.
  • This follows from the 2017 RC drilling of the high priority EM1 target, located 3.5km east of Tollu, which intersected a 100m thick zone of high grade hydrothermal pyrite mineralisation with anomalous trace elements.
  • A key outcome of the RC drilling programme is to test the EM (VTEMmax) targets confirmed by the ground EM survey and to better understand the mineralisation and prospectivity of the region.
  • The RC drilling programme will commence following completion of the analysis of the ground EM survey results, which should be no later than early All approvals have been applied for and mostly obtained.
  • The Company has already defined a maiden resource at its Tollu Copper Vein Project of 38,000t of Cu and 535t of Co (Indicated and Inferred at a cut‐off of 0.2% Cu – JORC 2012) and a conceptual exploration target (CET) also suggests up to 627,000t of Cu may be present ‐ grades intersected by drilling are as high as 3.25% Cu over 14m (2017 drilling)

*The potential quality and grade of the CET is conceptual in nature. It is important to note that there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

  • The Project has significant exploration upside with less than 5% of the Project explored to date.
  • The West Musgrave province is highly prospective and underexplored.

Investor Briefing

As energy metals industry advances, Redstone’s 13 electromagnetic anomalies present an opportunity for investors to gain exposure to their highly prospective assets in one of Australia’s hottest regions for exploration – West Musgrave.

Please watch the Investor Briefing recording to hear:

  • Why major mining companies have enquired about Redstone’s project in the West Musgrave region
  • How Redstone can significantly increase the value of the already proven 38,000t copper resource at Tollu
  • The blue sky potential of Redstone’s 13 EM anamolies

* Non-shareholders Eligible

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