Executive Summary of Kaiser Reef

Executive Summary of Kaiser Reef

After successfully bringing Galena Mining to the market, Mr Jonathan Downes and Mr Adrian Byass have now geared for the unique Gold explorer, Kaiser Reef Limited (ASX:KAU) advancing on Stuart Town gold property situated in the promise land of NSW.

Kaiser Reef (ASX: KAU), is undergoing an Initial Public Offering which is set to close on 7 February 2020 and reserves the right to close early. A total of almost 33,500,000 shares on issue following the IPO, making this one of the leanest capital structures on the ASX. Kaiser is currently offering a total of 22,500,000 shares at an issue price of $0.20 a share to raise $4.5M. The IPO will appeal to both the new and experienced investors due to the lean capital structure and the impressive track record of the management and their previous IPOs.

Kaiser Reef is led by mining veterans and technically strong management who have an impressive track record of exploration success and development.

Read More about the Stuart Town Gold Project: Click here


Mr Adrian Byass serves as the Non-Executive Chairman of Kaiser Reef Limited and has been on the board of numerous ASX & AIM-listed mining companies. Mr Byass has extensive experience of more than two decades in the base, precious, speciality and bulk mining commodities.

Mr Byass is currently on the Board of Gold, Lithium, Phosphate and bulk commodities mining companies listed on ASX. Kaiser will reap benefits from his vast experience, especially in gold exploration and mining.

Mr Jonathan Downes serves as Executive Director of Kaiser and has 25+ years of experience in Nickel, Gold and base metals sector. Mr Downes has strong capital raising experience as well as his strong experience in Geological and Management capacities.

In the past, Mr Downes has been associated with Hibernia Gold (Later Moly Mines), Ironbark Zinc and Siberia Mining. Currently, Mr Downes also serves as a non-executive director (NED) of companies including Galena Mining, Kingwest Resources and Corazon Mining.

Mr David Palumbo, a Chartered Accountant and graduate of the Australian Institute of Company Directors, serves as the Non-Executive Director and Company Secretary (Independent Director). Mr Palumbo has almost 14 years of experience across company secretarial; corporate advisory and financial management; and regulatory reporting of ASX listed companies.

Currently, Mr Palumbo also serves as the director of Krakatoa Resources Limited (ASX: KTA).

Galena Mining was 6th and most recent venture by the director duo. G1A listed on ASX in September 2017 and was followed by a 1 for 5 shares split in February 2018. Galena owns a majority stake in the Abra lead-silver mining project which is currently under construction. The Abra lead-silver project has a projected long life and offers an impressive internal rate of return (IRR) of 39%. G1A closed $0.32 a share on 24th January 2020 with the prices increasing 8 times since listing.

What brought the Lachlan Gold Belt into the limelight?

The Lachlan Fold belt hosted around 80+ gold mines in the past and has been explored by industry heavyweights such as CRA (Now RIO) who conducted soil testing and MIM defining large intrusive mineralisation beneath the gold mines.

The area was highlighted by Newcrest's Cadia gold mine, which evolved into Australia's largest gold mine, but recent Alkane's gold discovery – the Boda project, has brought the region into the limelight.

The Stuart Town gold mining district is located between the Cadia gold mine, Australia’s largest gold mine and the Alkane’s new mega Boda drill discovery. The Stuart Town mining property lies on the Lachlan Fold Belt and has hardly been explored in the recent times.

The New South Wales Lachlan Fold Belt currently enjoys the reinvigoration and the attention of Junior and Major explorers and miners for an asset in the region.

The Cadia mining operations produced almost 913-kilo ounces of gold in the form of Gold Dore, and Copper-Gold Concentrates with an AISC (All-in Sustaining Cost) of only $132 an ounce, this provides Newcrest with an immense profit margin mostly accounting to the by-product credits received from the Copper stream.

The multi-commodity mineralisation helps to keep the project’s estimated operating expense under limits and enables it to push more capital into the project for both open pit and underground mining operations as observed in the case of Cadia and Ridgeway operations.

The strategic location and the absence of extensive exploration provides an excellent opportunity which has been substantiated by Snowden Mining Industry (Independent geologist consultants) understating of the Stuart Town's similarity to the Resolute's Ravenswood (6 Million Ounce Gold Resources).

The management leadership has held the project for years and considers that the current timing is perfect for the exploration and development of the property.

Kaiser Reef under the leadership of its management with excellent track record will focus on the exploration and development of the Stuart Town Gold project with the possibility of a long-life mining operation in the matured mining environment of NSW.


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