Download the Prospectus
Pre Money Equity Valuation
$8,460,000
Min Raise
$5,000,000
Max Raise
$5,000,000
Estimated Close
2020-11-25
Issue Type
IPO
Lead Manager
Morgans Corporate Ltd
Type of Securities
Shares
Date First Lodged
09/11/2020
Offer Costs $
$494,148
Market Cap Max
$13,460,000
Key Executives
Robert Stuart (MD), Mark Stewart (NEC), Antony Worth (Technical Director)
Company Address
Level 2, 41-43 Ord St West Perth WA 6005
Exchange
ASX
Chairman's Letter

Dear Investor
On behalf of the directors of
Desert Metals Limited (Company),
it gives me great pleasure to invite
you to become a shareholder of
the Company.
The Company wholly owns a
package of exploration licences
on the northwest margin of
the Yilgarn Craton of Western
Australia. The prospectivity of
this under-explored region for
nickel-copper deposits has recently
been highlighted by the discovery
of orthomagmatic nickel-copperplatinum-palladium deposits on
the margins of the Yilgarn Craton,
such as Julimar and previously
Nova-Bolinger.
The Company’s Project is made
up of nine granted exploration
licences (the Innouendy, Irrida Hill,
Irrida East, Opal Bore, Breakaway,
Hooper, Dingo Pass, Mt Gould and
Belele Prospects).
The primary target on the majority
of the licences is nickel-copper
hosted in massive sulphide
accumulations. These massive
sulphides respond well to
geophysical techniques such as
electromagnetic (EM) surveys.
The Company is fortunate to have
in-house expertise in designing,
processing and interpreting
such surveys. The Company also
believes that a number of its
licences are prospective for gold
and will carry out regional mapping
and geochemical sampling to test
these areas.
This Prospectus is seeking to raise
$5,000,000 via the issue of Shares
at an issue price of $0.20 per
Share under the Offer. The purpose
of the Offer is to provide funds to
implement the Company’s business
strategies (explained in Section 5).
The Company’s primary activities
following listing will be undertaking
a drilling program to test EM
conductors at the Innouendy
and Irrida Hill Prospects, as
well as completing a number of
EM surveys designed to detect
additional conductors associated
with massive sulphides.
The Board is highly experienced in
the global mining and exploration
industry and has strong and
diverse technical and commercial
skills and background, including
significant expertise and
experience in the nickel exploration
industry. The Board will aim to
ensure that funds raised through
the Offer will be utilised in a
cost-effective manner to advance
the Company’s business.
This Prospectus is issued for
the purpose of supporting an
application to list the Company
on ASX. This Prospectus contains
detailed information about the
Company, its business and
the Offer, as well as the risks
of investing in the Company,
and I encourage you to read it
carefully. Risks associated with an
investment in the Company include
exploration risks, risks with respect
to access, environmental consents,
tenure to mining tenements and
commodity price and demand risks
(particularly nickel).
The Shares offered by this
Prospectus should be considered
highly speculative.
I look forward to you joining us
as a Shareholder and sharing in
what we believe are exciting and
prospective times ahead for the
Company. Before you make your
investment decision, I urge you to
read this Prospectus in its entirety
and seek professional advice
if required.
Yours sincerely
Mark Stewart
Non-Executive Chairman