ACDC Metals Ltd is focus on exploration and development of mineral resource opportunities, and specifically exploration and development of the Projects in Victoria, Australia. It is set to list on the Australian Securities Exchange (ASX).
ACDC Metals Ltd has three major projects – Goschen Central Project, Douglas Project and Watchem Project.
*Goschen Central Project(80%) – consists of EL5278 and covering a total area of 6,700 ha. The Goschen Central Project areas have wide zones of mineralisation and high-grade cores (>10 % heavy minerals (HM)), low stripping ratios, and a VHM suite comprising 60% to 80% of heavy mineral concentrate.
*Douglas Project(80%) – consists of two Tenements, being EL7544 and EL7545 and covering a total area of 30,300 ha. The Douglas Project’s Tenements are characterised by being coarse grained with mean diameter grain size ranging from 130 μm to 160 μm.
*Watchem Project – consists of exploration licence applications EL7642 and EL7932 and covering a total area of 100,000 ha. the Watchem Mineral Sands Project has a number of widely-spaced, fine-grained heavy mineral sands intersection of 4% to 5% total heavy mineral (THM) with 17% to 20% zircon, 10% to 17% rutile, 25% to 35% ilmenite and 2.1 to 3.5% rare earth minerals (RE) monazite and xenotime
ACDC Metals Ltd was looking to raise up to $8 million at $0.20 per share in its initial public offering (IPO). The Public Offer opens on 16 Nov 2022 and closes on 9 Dec 2022. The expected date for quotation on ASX is 17 Jan 2023.
Note: The dates shown on this page are indicative only and may change without notice.
IPO Summary
| ASX code | ACD |
| Name | ACDC Metals Ltd |
| Website | https://acdcmetals.com.au/ |
| Share Registry | Automic Pty Ltd |
| Underwriter | Not underwritten. PAC Partners Securities Pty Ltd (Lead Manager) |
| Opening Date for the Public Offer: | 16 November 2022 |
| Closing Date for the Public Offer: | 9 December 2022 |
| Expected date for New Shares to commence trading on ASX | 17 Jan 2023 1:00 PM AEDT |
| Funds to be raised under the Public Offer (before costs) | $8,000,000 |
| Offer price per share | $0.20 |
| Shares on issue at the Prospectus Date | 17,050,000 |
| Shares to be issued under the Public Offer | 40,000,000 |
| Total Shares (undiluted) | 72,305,130 |
| Escrow | 22,682,630 Shares, 8,700,000 options and 6,250,000 Performance Rights(a period of 24 months from date of quotation or issue) 2,875,000 Shares and 850,000 options (a period of 12 months from date of quotation or issue) |
Source: ACDC Metals Ltd prospectus, official website.