BPM Minerals (ASX: BPM) – a newly listed WA explorer

 

COMPANY SCOREBOARD

Pro PlusProCon PlusCon
  • Perfect market cap, share and options structure
  • Minimal corporate overheads
   

ABOUT COMPANY

BPM Minerals (BPM) (https://www.bpmminerals.com/)  explores gold and base metals in Australia. It acquired the Nepean Gold and Nickel Project and the Santy Gold Project at IPO. Subsequently, it acquired three tenements at the Earaheedy basin WA.

It was listed in December 2020 via raising $4.5m at 20c.

CAPITAL STRUCTURE

On IPO, the directors who incorporated the company received 9m shares; the broker received 1.3m shares, and the vendor for the Nepean and Santy project only received 3m shares.

The performance rights are linked to a minimum share price of 50c.

Spec share trader, Steven Pearce, bought a 9.5% interest on market for an average of 11, 12c plus, as well as other big movement in top20 during FY23.

FLAGSHIP ASSETS

Claw Gold Project Paynes Find WA

Project Data

The project is located directly abutting CMM’s 2.1 Moz Mt Gibson Gold deposit in Paynes Find.

Major drilling starts Jan 2024, but found nothing. A second campaign expects to start in July.

OTHER ASSETS

Santy Gold Project Barrabarra WA (251 km2)

Earaheedy (Hawkins, Rhodes, Ivan Well) Base Metal Project WA (143 km2)

The company acquired the project for 3.75m shares and 3.75m 25c option plus 2m performance rights (worth $2m)

Nepean Gold and Nickel Project WA (39 km2)

The project is located approximately 500 km east of Perth and 30 km south-southwest of Coolgardie. It is adjacent to AOU’s nickel mine under the same name.

SUMMARY

If the company decided to issue options expiring in 2025, the directors perhaps won’t be very active in 2022.

In April 2022, the directors raised money just to satisfy the Class A performance rights vesting condition.