Virgo Resources 16c seed capital raising – bids close Thursday 16th May – Prospectus for 20c IPO to be launched in June/July

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Seed capital raising of up to $256,000 at an issue price of 16 cents per share with a free attaching option on a 1-for-2.5 basis with an exercise price of 25 cents and a term of 3 years

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Please find a very small seed capital raising for an exciting Emerging African High Grade Copper Development Opportunity with a portfolio of advanced exploration and brownfield copper projects located in the stable and safe countries of Botswana and Namibia with a management team that has a successful exploration and development track record in Botswana.

IPO Prospectus planned to be lodged on or around 15 June 2019. IPO to raise $4.5m to a max of $5.5m at $0.20.

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If interested please submit firm irrevocable bids before Thursday 16th.

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Click Here for VIR – Seed Placement Term Sheet

Click Here for VIR Seed Presentation September 2018

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Key summary points to re-rate valuation prior to and post the ASX IPO:

• Conversion of existing Hope-Gorob-Vendome SAMREC Resource to JORC (2012) in October – this has been completed recently

• Optimisation of existing SRK underground mining scoping study completed on the Hope-Gorob-Vendome copper project

• Early exploration work on the Botswana copper projects including geophysics, soil geochemistry and mapping

• Diamond drilling the extensions / down-dip of the existing resource at Hope-Gorob-Vendome

• Re-assaying of diamond cores at Hope-Gorob-Vendome for other metals (as only were assayed for Copper)

• Geophysics on the Rhineland copper project

• Mapping of cross-cutting structures and sampling along the Rehderstal Fault which extends for over 9km within the Rhineland copper project, the host / source of numerous copper-gold-cobalt deposits in Namibia

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For Further Information, please email support@tradesetup.com.au

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