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Minerals 260 is an Australian mineral exploration and development company with a market capitalisation of $30 million (as at 31 December 2024).
Minerals 260’s objective is to discover and develop highly profitable, stand alone precious and base metal projects. It will do this by employing the best people and applying systematic, scientific exploration techniques to its tenement portfolio.
The price per share under the offer is $0.12 giving an implied market capitalisation at a minimum of $238,080,000 and a maximum of $258,080,000.
Funds raised through the public offer will underpin the cash component of the consideration for the acquisition of the Bullabulling Gold Project, as well as working capital to progress the Project, including completing an extensive drilling campaign aimed at upgrading and growing the resource base and detailed studies.
The Prospectus has been lodged with ASIC. Please ensure you read it carefully before you bid.
Details of the Offer and how to bid are enclosed below and shares are expected to trade on the Australian Securities Exchange (ASX) under the ASX code MI6.
Please contact our broking representatives by email or on 1300 040 802 if you have any questions on the Offer or would like to apply. If you would like to apply, please provide your account number, stock code and bid amount in the email.
Key Dates
Firm bids are due by 3pm Friday 21 March 2025 (AEDT) – Subject to early close without notice.
| Key Dates | Date |
|---|---|
| Lodgement of prospectus | 28 February 2025 |
| Bookbuild opens | 26 March 2025 |
| General meeting | 27 March 2025 |
| Settlement of new shares via DVP | 2 April 2025 |
| Issue of new shares under the public offer | 7 April 2025 |
| Despatch of holding statements | 7 April 2025 |
| Completion of the proposed transaction | 7 April 2025 |
| Expected latest date of reinstatement to the ASX | 16 April 2025 |
The dates above are indicative only and may be subject to change without notice.
Key Offer Statistics
| Offer Price | $0.12 per share |
|---|---|
| Shares on issue | 234,000,000 |
| Public offer | Minimum: $200,000,000 Maximum: $220,000,000 |
| Total on reinstatement | Minimum subscription: 1,984,000,000 Maximum subscription: 2,150,666,666 |
| Indicative market capitalisation | Minimum: $238,080,000 Maximum: $258,080,000 |
Important to note
By submitting your bid, you acknowledge the following:
a) you have read and understood the Prospectus dated Friday 28th February 2025 (and/or supplementary or replacement Prospectus);
b) you hereby submit a bid for a firm allocation of shares in the Offer and acknowledge that once the firm offer is closed I/we may not withdraw my/our bid.
c) you apply for the value of units that I/we bid for (or a lower value as determined by Bell Direct at its sole discretion);
d) that the information contained in the Prospectus (and/or any supplementary or replacement prospectus) is not financial product advice or an express or implied recommendation that the financial product is suitable for me/us, given my/our investment objectives, financial situation or particular needs;
e) That, in the event that the offer is oversubscribed, Bell Direct or the issuer may determine the allocation policy in its absolute discretion and I/we agree not to make any claim against Bell Direct or the Issuer in relation to the allocation policy.
f) I/we make the acknowledgements, declarations, representations and warranties of the Prospectus and this Initial Public Offer Application and declare that all declarations, details and statements made by me/us are complete and accurate;
Please contact our broking representatives by email or on 1300 040 802 if you have any questions on the Offer or on how to apply.
