The Expose Resources Limited is a gold explorer company which is into the business of exploring gold. It is looking forward towards its Red Gate Gold Project through resource description of its three operating mines in the regions of EXX.
At present, there are two projects currently under EXX. These are Red Gate Gold project which is in the region of Western Australia. This project is towards the 10 km north of the Porphyry Gold Mine. The second project of the company is the Roger River gold project in Tasmania. This project consists of uneroded, silicification based on hot spring, alteration of argillic and its associated volcanic pipes composed of broken fragments of minerals.
Now the company is looking forward to making its debut into the ASX market this month through the initial public offer worth $4.5 million.
The company at present is offering around 22.5 million shares each at 20 cents. If the company would be able to raise its full $4.5 million through IPO, then it would be able to issue 44.1 million. The market capitalization is expected to be around $8.8 million. The directors of the company will hold around 11 million shares.
Expose is now targeting to start the production at its leading Red Gate Gold Project. They already have planned to drill 3000 meters immediately after the company gets listed on ASX.
Based on its previous exploration results, the exploration gave shallow gold which was of high-grade quality. Within the 12 meters of drilling a 9.2 grams per tonne (g/t) 8m from the surface was explored. Also, within 10 meters of drilling at 8.5g/t 9m from the top of the surface was explored. As per the company, ore above 5g/t is considered under high grade.
Another plan of EXX is to start the supply of ore amongst at least one of the three gold operating mills in the region.
The IPO is closed today on 16 November 2018 and it will get listed on the ASX from 29 November 2018. The ASX code of the company will be “EXX”. In the month of October, the company was able to generate its seed capital of $500,000 through the pre-initial public offering at 10cents per share.
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