Company executives are on a roadshow around Australia spreading the message and intend to list on the ASX on April 10.
Chairman Adrian Fleming told Proactive Investors that the original plan was to list last November but this was postponed owing to prevailing market conditions.
Offer closes March 22
These have since improved, prompting the company to relaunch the IPO on February 18 with the offer to close on March 22.
The company’s flagship project is Red Gate near Kalgoorlie in Western Australia's Eastern Goldfields, which is along strike from the operating 2.5-million-ounce Carosue Dam project of Saracen Mineral Holdings Limited (ASX:SAR).
It is also just 10 kilometres north of Saracen's 900,000-ounce Porphyry mine and within the same belt as other multi-million-ounce deposits at Sunrise Dam, Wallaby, Granny Smith and Mt Morgans.
Tight capital structure
Fleming said there were three key factors potential investors should consider - the company's capital structure, its people and its property.
"The capital structure is not excessive, in fact, it is tight, which should prove attractive to investors."
Broad base of experience
He said the company also had a broad base of experienced people who could help steer its future development, including those with technical, mine engineering, commercial and financial backgrounds.
A geologist, Fleming has more than 40 years’ experience in the industry, with involvement in exploration, project development and mine operations.
He has been a member of teams that made gold discoveries at the Porgera project in Papua New Guinea, Big Bell in Western Australia, Gross Rosebel in Suriname, Hope Bay in Canada and White Gold in Yukon, Canada.
He founded Underworld Resources in 2006, which was acquired by Kinross Gold Corp (NYSE:KGC) for C$130 million and was also a founding director of Northern Empire Resources, which was recently acquired by Coeur Mining Inc (NYSE:CDE) for C$117 million.
Financial and commercial roles
Managing director Geoffrey Checketts is a business manager who has more than 20 years’ experience in financial and commercial management.
He has been instrumental in the establishment and management of several private and public companies focused on mineral exploration, financial advice and retailing.
Among his achievements was founding ASX-listed Tasman Goldfields Ltd, which later became Rift Valley Resources. He led Tasman to an IPO and then served as managing director.
In 2009, he negotiated Tasman’s $25 million mine development financing for the Challenger Mine in NSW.
Other members of the executive and management team are non-executive directors Andrew Matheson and John Haley, technical advisor Peter Nicolson and company secretary Peter Maletz.
Red Gate a shining light
Fleming said the third factor was Expose's properties, with Red Gate the shining light.
“It is within one of Western Australia’s most prolific greenstone belts that hosts multi-million-ounce deposits.
“A lot of work has been done by previous explorers but much of the data is fragmented.
"There has been no core drilling on this property and only some reverse circulation drilling."
This has returned results such as 14 metres at 3.7 g/t from 1-metre, 10 metres at 8.5 g/t from 9 metres and 26 metres at 2.13 g/t from 3 metres.
RC drilling at two additional prospects identified deeper mineralisation, including 8 metres at 2.39 g/t from 68 metres and 1-metre at 10.95 g/t from 126 metres.
Managing director Checketts said that the project offered significant potential for further exploration success.
“We intend to compile and review the historical data and then undertake a systematic exploration program,” he said.
The company intends to begin a permitted and approved 3,000-metre RC program to test established targets immediately upon listing.
The prospectus, which includes an application form, is available on the company's website - www.exposeresources.com.au