Download the Prospectus
Pre Money Equity Valuation
$42,656,703
Min Raise
$8,000,000
Max Raise
$8,000,000
Estimated Close
2020-08-26
Issue Type
IPO
Lead Manager
Morgans Corporate Ltd
Type of Securities
Shares
Market Cap Max
$50,656,703
Key Executives
Peter Doyle (MD and CEO), Mark Lochtenberg (IC and NED), Rob Tindall (NED), Susie Henderson (INED), Will Souter (INED)
Company Address
Level 4, 100 Albert Road South Melbourne VIC 3205
Exchange
ASX
Chairman's Letter

Dear Investor,
On behalf of the Board of Directors, I am pleased to offer
you the opportunity to become a shareholder in Montem
Resources Limited (Montem or the Company). Montem
owns steelmaking coal properties in southern Alberta and
British Columbia, Canada. These properties are located in
Canada’s premier steelmaking coal mining region, adjacent
to key mines of Teck Resources, which is the major producer
of Canada’s steelmaking coal.
I would like to make it clear that what Montem intends
to produce, beneficiate and transport to the marketplace
is coking coal consumed by Asian steel mills to produce
steel as opposed to thermal coal which is burnt by power
stations to produce electricity.
Montem Resources plans to re-start mining at the
Tent Mountain Mine which closed in 1983 due to poor
market conditions. We will also progress development
opportunities at the Chinook Project, as well as exploring
our greenfield properties, including Isola and 4-Stack.
Montem’s investment highlights include:
• High quality steelmaking coal, initially from the Tent
Mountain Mine, which was previously exported to Japan;
• Significant resource including JORC compliant Mineral
Resources 3.7Mt Measured, 151.9Mt Indicated and
53.7Mt Inferred Exploration and development potential
from our large portfolio of assets;
• Experienced Board and management with extensive
coal mining experience in Canada and Australia.
The Company’s strategy is simple. We have recently
completed a definitive feasibility study for the Tent
Mountain Mine re-start and are raising funds to move
the mine to construction ready. Furthermore, we have
delineated development opportunities at the Chinook
Project, and have a large portfolio of highly prospective
exploration targets. Montem is poised to become a
steelmaking coal producer in the next two years and
has plans to grow a large steelmaking coal mining
business in the Crowsnest Pass.
Under this Prospectus, the Company is seeking to raise
$8,000,000 via the issue of 32,000,000 Shares at an
issue price of $0.25 per Share. Morgans Corporate Limited
is the Lead Manager and Underwriter to the Offer.
Funds raised in this Offer will be used to complete
licencing of the Tent Mountain Mine. We have active
mine permits and environmental approvals for the mine
and require operating licences and an amendment to
the environmental approval to re-start the mine. The
infrastructure for the mine is in place, enabling a rapid
re-start. We have secured the land for the rail loadout
and secured port allocation at Westshore Terminals
in Vancouver.
Funds raised in this Offer will also be used to conduct
exploration of the Chinook Project and to continue to
develop mine plans for the Chinook Project. The current
JORC resource estimates for the Chinook Project are
based on historical records, and we expect new drilling to
modernise our knowledge. We have recently completed
a conceptual mine study for the Chinook Project which
showed encouraging results.
Finally, using funds from the Offer we will also investigate
the Isola Project which shows outstanding potential, with a
recently estimated Exploration Target of 900Mt. Please note
the potential quantity and grade of the Exploration Target
is conceptual in nature and there has been insufficient
exploration carried out to define the relevant Coal Resource
and it is uncertain if further exploration will result in the
estimation of Mineral Resources. The Exploration Target is
not reported as part of any Mineral Resource or Ore Reserve.
We do however hope to explore Isola in the future and look
forward to informing you on our progress.
I ask that prospective investors please take the time to
review this Prospectus for a full appreciation of the quality
of the Company’s portfolio of assets, the risks associated
with our activities and details of the team that steward the
Company’s strategy. We look forward to welcoming new
shareholders on our journey as we seek to become Canada’s
next steelmaking coal exporter.
Yours faithfully
Letter from the Chairman
Mark Lochtenberg
Chairman