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Norfolk Metals Ltd (NFL)

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A Deep Dive profile provides ASX listed companies with an opportunity to tell their story in plain English.

Company Deep Dive

Norfolk Metals Ltd is a Western Australian based minerals company that listed on the ASX in March 2022 with a ~$1.1m Enterprise Value (EV).

The Company owns the Roger River Gold Project in Tasmania, which is considered to be prospective for gold and base metals mineralisation, and an exploration licence for the Orroroo Uranium Project in South Australia.

Norfolk Metals is committed to sound Environmental, Social & Governance (ESG) practices. The Company has established an ESG framework and outlined ESG goals it believes will best support the sustainable progression of its projects.

Within 12 months of admission to the Official List, Norfolk Metals intends to execute on two sequential exploration programs.

Highlights

Gold and uranium prospects ready to drill

Committed to ESG conscious exploration activities

Opportunity to explore prospective Australian uranium territory in South Australia

Opportunity to discover a new Australian epithermal gold district in Tasmania

Board to consider acquisition opportunities as presented

Roger River Project - Diatreme Breccia Exposure in Quarry

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Leadership Team

Board of Directors

Ben Phillips

Executive Chair

Mr Phillips has over 15 years’ experience in commercial negotiations with a broad spectrum of industries including Oil and Gas, Resources, Medical technology, SaaS and Defence.

Profile

Ben Phillips

Executive Chair

Mr Phillips has over 15 years’ experience in commercial negotiations with a broad spectrum of industries including Oil and Gas, Resources, Medical technology, SaaS and Defence.

Mr Phillips previously held a Non-Executive Director position at Bronson Group (ASX: BGR) and subsequently Mandrake Resources (ASX: MAN).

Position as a Corporate Executive at Ironside Capital Mr Phillips is focused on sourcing, structuring, funding and management requirements for small-cap companies both private and public.

Leo Pilapil

Non-Executive Technical Director

Mr Pilapil has over 30 years’ experience as a Geoscientist and three years as a Financial Planner.

Profile

Leo Pilapil

Non-Executive Technical Director

Mr Pilapil has over 30 years’ experience as a Geoscientist and three years as a Financial Planner.

As a geoscientist, he has held Director Positions for several junior companies in Australia, Africa and Turkey, mainly responsible for technical project evaluations, project acquisitions, project management and business development.

Responsible for the discovery of the Harlequin Gold Deposit (1Moz) under salt lake conditions in Norseman WA Australia and has also been responsible for the mine extensions and discoveries of several ore deposits in Australia, Africa, Turkey and more recently in Lao PDR.

Mr Pilapil has established drilling companies in Turkey and Lao PDR servicing several major exploration and mining companies to complement the acquisition of his own personal projects.

Patrick Holywell

Independent, Non-Executive Director

Mr Holywell has over 15 years of experience in accounting, finance and corporate governance, including employment at Deloitte and Patersons (now Canaccord Genuity).

Profile

Patrick Holywell

Independent, Non-Executive Director

Mr Holywell has over 15 years of experience in accounting, finance and corporate governance, including employment at Deloitte and Patersons (now Canaccord Genuity).

Mr Holywell is a Chartered Accountant and a Fellow of the Governance Institute of Australia with the last ten years focused on Director and Company Secretarial roles in the resources and technology space.

Mr Holywell’s most recent involvements include roles with De Grey Mining Limited, Si6 Metals Limited and Pentanet Limited.

Mr Holywell has completed a Bachelor of Commerce at UWA, a Graduate Diploma of Chartered Accounting with the Institute of Chartered Accountants and the Company Directors Course with the Australian Institute of Company Directors.

Norfolk Metals' has two key projects

Gold

Roger River Gold Project

The Roger River project is located in Northwest Tasmania, approximately 410km from Hobart. The project contains two tenements: EL20/2020 was granted in August 2021, and EL17/2021 is currently in application. 

A potential new epithermal gold district is to be discovered along the Roger River Fault.

Epithermal gold deposits have been discovered internationally with often very little surface mineralisation. Examples of hidden deposits are Siana Mine in Philippines and Jerrit Canion in USA.

Uranium

Orroroo Uranium Project

Located 274km northwest of Adelaide and accessed via a sealed road, the Orroroo area is situated over the Walloway Basin. 

Orroroo is an early-stage exploration project that is prospective for roll front Uranium, based on downhole gamma reading within historical hydrocarbon drillholes over a 5km by 3km area.

Investment History

Initial Public Offering (IPO) $5.5m

IPO $5.5m
|Jan 2022

This Prospectus is seeking to raise a minimum of $5,000,000 and a maximum of $5,500,000 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 for the development of the Roger River Gold Project and the Orroroo Uranium Project.

Raised $5.5m
Offer Price $0.20
Notes IPO

Key Milestones

Historical

Exploration license granted for Roger River gold project
Exploration licence granted for Orroroo uranium project

Future

Additional license to be acquired for the Roger River Gold Project
NFL intends to drill both the Roger River and Orroroo projects within 12 months of admission to the ASX Official List

Resources

Quarterly Cashflow Report - June 2022

29 Jul 2022 | Report
PDF (227.4 KB)

Quarterly Activities Report - June 2022

29 Jul 2022
PDF (518.9 KB)

IPO Prospectus

01 Feb 2022
PDF (8155.7 KB)