COMPANY OVERVIEW

Transition Resources Pty Ltd (Transition) is a privately-owned, research-focused explorer. It was established in March 2018, acquired its first assets in July 2018, undertook its first field activity in November 2018 and made its first major greenfield discovery in June 2019. 

Transition currently has 3 directors, 15 personnel and 59 retail shareholders. Transition’s first field season commenced in October 2018 and all assets are 100% owned. Total expenditure (five-years) is over A$19 million.

Project Overview:

• Location: near the regional Queensland township of Cloncurry, which is located within the world class Mt Isa Inlier.
• ~1100km2 mining and exploration tenements in globally recognised metals province (Cloncurry), 100% owned. 
• ~90% of all expenditure directed to field activities. 
• ~A$6.5 million of R&D refunds re-invested. 
• Significant discoveries include:
  1. Duck Creek Copper Project (brownfield copper) with maiden resources of 5.44Mt @ 1.45% copper (JORC 2012) - OPEN 
  2. Highway Corridor (greenfield gold-rich mineral system, previously unknown to the region) with estimate 100,000 ounces gold - OPEN 
  3. Highway Gold Project (greenfield, gold and critical metals) - OPEN 
• Mine development plans include:
  1. Phase-1: low capex, open-pit, toll-treating high-grade copper/gold. 
  2. Phase-2: stand-alone process 

Pre-IPO Offer:

• Pre-IPO capital raise of A$7 million in up to three staged tranches.
• Tranche 1 of A$4m by issuing 8 million shares @ A$0.50 per share.