Download the Prospectus
Pre Money Equity Valuation
$10,433,500
Min Raise
$4,500,000
Max Raise
$5,500,000
Estimated Close
2020-11-11
Issue Type
IPO
Lead Manager
Baker Young Ltd, Pulse Markets Pty Ltd
Type of Securities
Shares
Date First Lodged
09/10/2020
Offer Costs $
$570,000
Market Cap Max
$15,933,500
Key Executives
Malcolm McAully (NEC), Len Walker (MD), Stephen Layton (NED)
Company Address
Level 2, 480 Collins Street Melbourne, Victoria 3000
Exchange
ASX
Chairman's Letter

Dear Investor
On behalf of the Board, it is my pleasure to invite you to invest in this initial public offering
of Shares in Chaucer Energy Limited (Chaucer Energy or the Company).
Chaucer Energy is an Australian public company that plans to develop a number of
commercial energy projects in Chile using gas obtained from applying the process of In
Situ Gasification (ISG) to deep domestic coal resources. The Company’s management
team and its technology partner Ergo Exergy Technologies Inc (Ergo Exergy), have a
long association with ISG (details of which are provided in Section 6 of this Prospectus).
The Company has undertaken a comprehensive review of Chile’s coal basins and, at the
date of this Prospectus, has identified three potential project areas in southern Chile that it
wishes to evaluate further. We have been granted Exploration Mining Concessions over
4,100 hectares of land near the town of Maullin (the Maullin Project area), and also over
two other separate areas in the Magallan Basin – 8,200 hectares at Rio Perez (the Rio
Perez Project area) and 6,900 hectares on Isla Riesco (the Isla Riesco Project area).
The Company believes that it has acquired the most prospective areas in the country for
the application of the ISG process.
Selection of the Company’s project areas has been made on the basis of data from oil and
gas wells, nearby drilling data, seismic and gravimetric surveys and from coal outcrop
exposures as described in the Independent Geologist’s Report contained in Section 11 of
this Prospectus. To date, insufficient drilling has been undertaken to define a JORC
compliant coal resource within any of the project areas and further exploration needs to be
undertaken to confirm the viability of implementing a commercial ISG project.
The Company proposes to raise a minimum of $4,500,000, and a maximum of $5,500,000
pursuant to this Prospectus to enable it to conduct selective exploration and further
evaluate the suitability of the project areas for development. The initial focus will be on the
Maullin Project area where, subject to a positive evaluation, the Company intends to
develop a staged commercial ISG Power Project generating up to 100 MW of electricity.
Funds raised under this Prospectus will be used to undertake an exploration program with
the objective being to identify a JORC compliant resource on this area, and also to confirm
whether a coal deposit might exist on at least one of the Rio Perez Project or Isla Riesco
Project areas.
Subject to identifying a suitable coal deposit, design and site preparation work on the
Maullin Project area will be undertaken in advance of initial gas production. First stage
power production of up to 3 MW will be pursued subject to raising additional funds, to be
followed by a phased expansion to a maximum of 100 MW subject to satisfactory
feasibility studies and the Company obtaining relevant approvals and further funding.
The manner in which the funds raised through this Prospectus will be used, together
with indicative project development timeframes are discussed in further detail in
Sections 5 and 13.7. Details about the risks associated with the Company’s business
plan and making an investment in the Company are contained in Section 7.
While the current focus for Chaucer Energy is in Chile, there is an international interest
in the application of ISG technology for both power generation and the use of the
product gas for domestic manufacture of chemical products. This is evident in countries
such as India, China and South Africa, with Australian support for the technology still
existing in South Australia. As a result, it is evident that successful commercial
development of the technology in Chile by Chaucer Energy may create substantial
project demand for which the Company should be ideally placed to meet.
It is with great enthusiasm that I commend this Prospectus to you, and invite you to join
us as an investor for the exciting future ahead.
Yours faithfully
Malcolm McAully
Chairperson