On behalf of our Board of Directors it is my pleasure to extend this invitation to you to consider
becoming a Shareholder or topping up your existing shareholding in Genmin Limited (Genmin or
Company), as part of this initial public offering and ASX listing of the Company.
Genmin is a central West African focused iron ore exploration and development company with
projects located in the Republic of Gabon (Gabon).
Over the past eight (8) years, the Company’s existing Shareholders have invested approximately
USD35 million defining a pipeline of iron ore projects as follows:
Baniaka, a feasibility stage project with defined JORC compliant Mineral Resources
Bakoumba, an advanced exploration stage project with drill ready targets located
approximately 80km from Baniaka (Bakoumba); and
Minvoul/Bitam, an early stage exploration project (Minvoul/Bitam).
The Offer comprises the issue of 58,823,529 Shares at AUD0.34 per Share to raise AUD20 million
(Minimum Subscription) with a provision to accept oversubscriptions of up to AUD10 million to
raise a maximum of AUD30 million (Maximum Subscription).
Importantly, the Company’s major shareholder, Tembo, will follow-on its existing investment in
Genmin through the Tembo Offer, which involves the issue of a further 12,253,105 Shares (being
such number of Shares as is equal to USD3,207,863 owing under the Convertible Note Deed at the
issue price of AUD0.34 per Share) in addition to those issued under the Offer. See section 6.8 for
further detail on the Tembo Offer.
Existing Australian resident Shareholders (other than Tembo) as at the date of this Prospectus will
be able to participate in the Priority Offer (as set out in Section 6.4) and will receive a personalised
invitation from the Company.
The purpose of the Offer is:
to provide funding for the Company to undertake:
o a Preliminary Feasibility Study on Baniaka, and to commence social and
environmental baseline studies;
o drill testing of defined targets at Bakoumba; and
o geological reconnaissance and prospecting at Minvoul/Bitam; and
to provide general working capital and to cover the costs of the Offer.
Further details of Baniaka, Bakoumba and Minvoul/Bitam (collectively the Gabon Projects), work
programs and proposed uses of funds are set out in Sections 2.4, 2.6 and 6.1.3 respectively.
The Board’s strategy to create Shareholder value following Completion of the Offer is to position
Baniaka for permitting and financing to enable its development at a profitable scale, and to
advance and de-risk the other projects in the pipeline.
In January this year, China’s government announced guidance that the steel sector aims by 2025
to secure at least 45% of its iron inputs from suppliers controlled by China. Baniaka represents a
near term development opportunity in Gabon within the 2025 window. It has excellent bulk
commodities transport infrastructure endowment with a nearby standard gauge, heavy haulage
railway terminating at the Port of Owendo on the Atlantic Ocean, where a multi-user mineral port
has been developed by Gabon Special Economic Zone Mineral Port.
This Prospectus contains important information in relation to the Offer, the financial and operating
performance of the Company, as well as information relating to its operations and business
strategy. The key risks associated with an investment in the Company are contained in Section4,
which should be considered in detail. I encourage you to read this Prospectus carefully and consult
with your independent professional adviser before making an investment decision.
The Board looks forward to welcoming new and existing Shareholders to the next stage in the