M3 Mining
Primary ticker: ASX:M3M
Stage of development: Exploration
Primary minerals: Precious, base metals and energy
Project to promote: Victoria Bore Copper Project
Project location: Australia
Website: m3mining.com.au
M3 Mining Limited (ASX:M3M) is a Perth-based exploration company focused on creating value for shareholders through exploration and development of a high-quality base and precious metal exploration portfolio. M3 Mining’s projects are strategically located in tier one locations surrounded by majors and have neither have had modern, systematic exploration techniques applied. The Company’s strategy is to apply a systematic approach to the assessment and prioritisation of its projects, all of which have the potential to produce material discoveries. Simultaneously, M3 Mining is actively seeking opportunities in the energy sector that aimed at delivering substantial shareholder returns.
Cash: AUD$2.3M
Debt: NIL
Major shareholders:
SHRIVER NOMINEES PTY LTD
BROWN BRICKS PTY LTD <HM A/C>
RESMIN PTY LTD <SPE INVESTMENT>
HUNT PROSPERITY <INVESTIUS PB MICRO CAP A/C>
STEVSAND PTY LTD
Management ownership – 11.10%
Financials
Management Profile
Simon Eley, Executive Director
Solicitor with considerable experience in the resource sector. Simon was the founding director of Egan Street Resources and led the acquisition of the Rothsay gold project which was subsequently acquired by Silver Lake Resources in 2019 for an implied value of $72 million. He has held the chairman role of several of ASX and NASDAQ listed companies and also acquired the Central Murchison Gold Project and later became an executive director of Aragon Resources Limited. Simon’s experience also includes oil and gas operations in Africa, iron ore projects, capital raisings, commercial agreements, dispute resolution, corporate management, strategy, acquisitions and divestments.
What is your rationale for taking part in 121 Mining Investment?
Raise investor awareness of, and market support for, the company and its potential given the current low valuation. Assuming either the Victoria Bore Copper Project or the energy asset currently being pursued is acquired, we’ll also be looking to undertake a significant capital raise.
What recent news would you like to highlight to investors attending?
17 June 2024 – new zone of high-grade copper confirmed at Victoria Bore
29 July 2024 – appointment of highly respected oil and gas director (for no fees unless and until energy asset is secured)
Sep/Oct 2024 – directors buying shares
(To be announced) Oct 2024 – completion of extensive soil sampling program at Victoria Bore
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Generate copper targets at Victoria Bore and gold targets at Edjudina.
6 Months:
Secure energy asset and accompanying significant capital raise and drill test gold copper targets at Victoria Bore and gold targets at Edjudina.
12 Months:
Complete second acquisition in energy space and drill out copper targets at Victoria Bore.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Access to capital – we have a tight capital structure, supportive shareholder base with management aligned to success and we have recently completed a placement giving M3 Mining confidence in its future ambitions.
Administrative processes – obtaining the grant of tenure is becoming an issue generally so ensuring we have the right team assisting M3 Mining to reduce timeframes is paramount.
What do you think makes your company such a compelling investment?
Team individually and combined have generated significant shareholder wealth before so know what’s involved.
Tight capital structure gives greater leverage to success as well as a good runway for acquisitions.
Gold and copper; amongst the go to commodities at present as well as, potentially, an advanced stage energy project.
What are the top 3 key investor takeaways?
1. Highly regarded team known for discovery and transaction success.
2. Exposure to gold and copper in premier mining jurisdiction with potential energy asset to be secured in near future.
3. Supportive shareholder base and attractively priced, leveraged to success.