Greater access to IPOs through OnMarket BookBuilds

State One has partnered with OnMarket BookBuilds to provide our clients with even more investment opportunities. In addition to the exclusive capital raisings that State One undertakes and offers to our clients, you can now take advantage of offers from OnMarket. Our association with OnMarket will allow you to bid directly on IPOs and have the shares allocated straight to your holdings at State One. Through OnMarket our clients will also be able to access free research, management interviews and get notifications on upcoming IPOs.

OnMarket is Australia’s first online platform that lets all investors buy shares in IPOs free of any fees other than the cost of the shares. Since launching in October 2015 OnMarket has hosted 1 in 3 ASX IPOs, so we are obviously excited to be able to offer our clients access to this cutting-edge platform. For each offer hosted by OnMarket you get easy bidding & payment, free independent research, and a chance to 'meet the management' via exclusive video interviews. Best of all, when you invest in IPOs via OnMarket, any shares you buy can be allocated directly to your State One Stockbroking account so you can manage your portfolio without disruption.

How does it work?

We will display the list of current offers from OnMarket on our website. If you see an offer that you want to invest in then click on the Bid Now button to apply for shares. You will leave State One website and be redirected to our partner's (OnMarket) bidding platform where you will need to sign up with your Holder Identification Number (HIN). If you have already signed up then you will be taken straight to the bidding page for the selected offer.

It is important that you enter your HIN correctly when you set up your login at OnMarket. This will make for a seamless experience if you want your shares to be automatically allocated to your State One account.

Current OnMarket Offers

IPO
Commercial Services
$0.50
Size of Offer $1.0-1.5 million
Minimum Bid $2,000.00
Opening Date 11/12/2017
Closing Date 12/12/2017

Applications for the Jayride Group IPO are closing early via OnMarket. Please submit your applications by 5pm Tuesday 12th December (AEST).  Payment should also be made by 5pm today to avoid missing out.  

OnMarket is accepting applications for the The Jayride Group Ltd IPO during the Exposure Period.  Applications will be processed at the expiry of the Exposure Period, on or after 14 December 2017.

Bids over $5,000 may be scaled back more heavily, and we cannot guarantee that all funded bids will receive an allocation.

Founded in 2012, Jayride Group Ltd (ASX: JAY) is an e-commerce marketplace and booking platform that aggregates, structures and distributes airport ground transport information. The platform allows travellers to compare, contrast and book various ground transportation solutions and services for travel to and from airports globally. 

With 2,000+ ground transport companies at 500+ airports across the US, UK, Ireland, Australia, NZ, and internationally, Jayride aggregates more transport suppliers to offer more traveller choice than any alternative known to the Company.

In addition to serving travellers directly, Jayride partners with Channel Partners, such as Amadeus, Expedia, Sky Scanner, and Flight Centre Travel Group, providing them with access to book ground transfer options through its API offering.

As a marketplace, Jayride has a highly scalable model which is defensible and benefits from aggregation. Jayride is positioned to be the global leader of airport transfers, a potential market exceeding $100 billion.

Screenshots from Jayride Pro extranet and booking website

Offer Overview

Jayride Group Limited is looking to raise up to $1.5 million via its IPO. At maximum subscription, the Company will have a market capitalisation of $37.7 million and $7.7 million in available funds.  These funds will be largely applied to:

  • Technical and product development – delivering growth through new product features, workflows and optimisation of booking conversion rates
  • New marketing initiatives and business development – delivering growth through new installed Channel Partners and launching of further international destinations

The Board of Jayride intends to pay out 50% of NPAT as a dividend commencing September 2020. 

Jayride Business Model

Jayride enables passengers to search and compare ground transportation options, including airport shuttle buses and private transfers, based on their destination and preferred route. Bookings are made online and directly with the transport service company. Travellers are provided with the transport provider’s name and contact information so they can reach out and arrange details with them directly if needed. All bookings are at a fixed price, with instant confirmation and a 100% refund guarantee.

In addition to being a marketplace, Jayride’s business model includes transactional revenue and a positive cash float carried on bookings.  Further benefits of this business model include:

  • Highly scalableJayride is able to scale its business model to apply to new international regions, to new transport service types, and to new categories of Channel Partners.
  • Highly defensible Jayride is able to defend its business through the marketplace defensibility that comes from having the largest aggregated database of ground transport companies, attracting the largest audience of travellers.
  • Transactional Jayride is able to scale revenues per transaction through marketing of value added services, upgrades, the attachment of added extra services, and of ancillary items.
  • Positive cash float Jayride receives payment in full for most transport bookings at the time the booking is made, up to 12 months ahead of travel, and holds the payment until after the transport company successfully completes the booking.

Jayride revenue by Channel Summary & by Transport Service Summary – Q3 2017

Revenue

Jayride’s principle source of revenue is from commissions and booking fees when travellers book with a transport company.  These commissions and booking fees total an average of 23% of each booking made.

Jayride revenue has grown with double-digit percentages every quarter since the launch of the system, 17-straight quarters.  With the US now Jayride’s largest and fastest growing market by revenue, contributing to over 50% of total revenue, growth will remain focussed on North America, with new regions to be added in the future. 

Revenue per country in quarter since launch

Growth opportunities

Jayride is able to scale revenues by adding new airport destinations; and by increasing marketing, and adding new transport services, at existing airport destinations.  More specifically, the focus areas for growth will include:

  • New markets The Company plans to roll out new regions with a proven play-book, with the US market roll-out being the fastest, largest roll-out to date. New markets will be prioritised largely on airport passenger movements and channel partner demand.
  • New transport types Add new transport types to the marketplace including rideshare and coach-line services.
  • New Channel Partners – Add new Channel Partners that integrate the Jayride Booking API functionality to sell transport to their users via the Jayride platform.
  • New value-added services – Add new highlights to emphasise the value added by premium transport services, showcasing star ratings, reviews, and other value-added features that encourage travellers to opt into higher quality, larger purchases.
  • New upgrades – Increased ability to upgrade vehicles and service types e.g. shared shuttles to private services and upgrades to premium vehicles.

Management and Board

Jayride has a highly experienced and capable Board including:

  • Rodney Bishop, Executive Director and CEO/MD, Co-founder. 10+ years’ experience in founding companies and leading teams. Rodney was the former founder of Hitch (marketplace for hitch hikers) and founding member of The Ridesharing Institute and MD of Navigo.
  • Zhongyuan (Ross) Lin, Non-Independent Non-Executive Director, Co-founder. Experience in technology solutions strategy, planning and implementation as well as 12+ years’ experience in geospatial technology and e-commerce marketplaces.
  • Andrey Shirben, Independent Non-Executive Director. Andrey is a serial entrepreneur, investor and founder of  SYD Ventures, a venture company that invests in early-stage startups and co-founder of Follow [the] Seed, a global VC fund for companies seeking post-seed investment. He has established numerous companies and invested in over 50 startups, including being Jayride’s first investor in 2012.

 

As set out in Section 5 of the Prospectus, Jayride Group Limited is subject to a range of risks, including but not limited to potential new competitors, intellectual property rights, third party relationship risks, software, technology and systems related issues.

 

Section 734(6) disclosure: The issuer of the securities is Jayride Group Limited ACN 155 285 528. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).

IPO
Pharmaceuticals
$0.20
Size of Offer $15-20 million
Minimum Bid $2,000.00
Opening Date 28/11/2017
Closing Date 15/12/2017

Rong Yu Pharmaceuticals Limited (ASX: RY8) is a well-established business involved in the development, manufacture and sale of prescription and over the counter (OTC) pharmaceutical products based on principles of traditional Chinese medicine (TCM).

The Company manufactures and packages its five Rongyu Products in-house before delivering them to over 300 wholesale distributors for distribution throughout 28 Provinces across China.  With the increasing demand for TCM both in China and overseas, following successful completion of the Offer, the Company plans to expand its business activities in the Asia-Pacific region beginning with Australia.

Chinese Provinces where the Company's products are distributed

The Company has enjoyed strong growth with revenue increasing from A$41.5 million in FY2015 to A$71.4 million in FY2017. Net profit has increased from A$11.9 million in FY2015 to A$19.3 million in FY2017 with a net profit margin of 27.0%.

Offer overview

Rong Yu Pharmaceuticals Limited is looking to raise up to A$20 million via its IPO, and will have an estimated market capitalisation of A$80 million on the maximum subscription of the IPO offer.  The Company intends to pay up to 20% of NPAT as unfranked dividends each year commencing from 2018.

The Traditional Chinese Medicine Market

TCM is a national treasure in China and has been used for several thousand years. TCM products are typically made from natural herbs and are considered as alternative remedies to Western medicine products in China. They are believed to be better for curing the root cause of the illness and for strengthening the immune systems.

The TCM industry in China is expected to reach RMB2,745 billion (A$546 billion) by 2019, with ongoing growth supported by a number key drivers, including:

  • support by various government policies which encourage participation, training, investment and development
  • China’s large and gaining population
  • Increasing urbanisation and disposable income in China
  • Growing global acceptance and use of TCM

Rongyu Products

The Company produces 5 core pharmaceutical products that are developed based on principles of traditional Chinese medicine. The products enjoy a good reputation among customers due to the strict supervision and control the company imposes. The products have been approved for sale by the Chinese Food & Drug Administration (CFDA) and are currently sold across 28 Provinces in China.

The Company’s two core products, focussed on lowering cholesterol, and treatment of women’s anaemia, contributed over 80% of sales in FY2017.

Business Strategy

Post IPO, the Company's primary focus will be:

  • to further penetrate the Chinese market through existing and new distributors
  • to secure herb supply to ensure greater supply reliability and improved margins
  • to establish business operations in Australia to expand distribution and leverage further supply opportunities with a view to further expanding its business internationally

The Company also intends to acquire land usage rights for a parcel of agricultural land in Fuzhou City, Jiangxi Province, China to cultivate some of the herbs required in the production of the Company's products.

Board and Management

The Board and senior management have a broad base of experiences covering operational, technical, corporate and commercial backgrounds spanning a number of decades across a range of different industries and includes:

  • Rod Hannington, Non-Executive Director – has over 15 years’ experience in marketing and strategy services in consumer health and fast moving consumer goods in the Asia Pacific region.  Rod is also the Executive Director of the ASX listed company, Eagle Health Holdings Limited
  • Rongyu Ye, Executive Director – was an executive member of the SME Council in Fuzhou and currently a member of the National People’s Congress, and vice-chairman of Sole Traders’ Council.

As set out in Section 6 of the Prospectus, Rong Yu Pharmaceuticals Limited is subject to a range of risks, including but not limited to reliance on suppliers, regulatory risk, PRC land tenure system, agricultural risk and certification and licences.

 

Section 734(6) disclosure: The issuer of the securities is Rong Yu Pharmaceuticals Limited ACN 617 647 293. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).​

IPO
Financials
$1.50
Size of Offer $12-22 million
Minimum Bid $2,250.00
Opening Date 29/11/2017
Closing Date 22/12/2017

Duxton Broadacre Farms Ltd (ASX: DBF) will seek to capitalise on the increasing demand for grain as a vital input into a range of staple food products, the alcohol industry and the livestock industry. The Company will look to generate income and capital gains for Investors through the operation of broadacre farms in Australia, that are positioned to benefit from potential increase in grain prices (among other commodity prices) and appreciation in land values.

The Company’s existing farm investment portfolio is valued at $58.335 million and comprises three properties located near Forbes in New South Wales, including Merriment, Wyalong and Yarranlea, as detailed below: 

4 The lease will expire on or before 31 December 2017 and will not be renewed.

Once listed, the Company is expected to be the only ASX listed vehicle of its type in Australia providing its investors with direct exposure grain production.

The Company’s main investment objectives are to:

  • provide a listed investment vehicle that gives investors direct exposure to a diverse commodity production portfolio
  • generate an income stream for investors from the yield of the portfolio in the form of dividends
  • provide capital growth over the long term and to benefit over the long term from the forecast appreciation in grain prices from their current historical record lows

Offer Overview

Duxton Broadacre Farms Ltd is looking to raise up to $22 million via its IPO, and will have an estimated market capitalisation of $66.1 million at maximum subscription.   The Company intends to generate an income stream for investors in the form of franked dividends. The Company will aim to pay out 40% to 60% of its operating profit to Shareholders annually from March 2019 onwards.

The proceeds of the Offer will be used to acquire farms that fit the farm investment criteria, pay for general working capital, to reduce debt and to pay the costs of the Offer and listing on ASX.

Company Objectives

The Company’s objective is to create a diversified portfolio of high-quality, efficient broadacre farms to capitalise on the growing demand for grains, livestock and cotton. The investment thesis is driven by long-term growth in global grain demand translating to significant operating margins and improved farmland values over time, providing shareholders with both ongoing annual operational yield and longer-term capital growth.  The Company’s key commodity exposure is to both domestic and international grain prices.

The Company mitigates customer risk by ensuring it is not selling all of its products to a single customer, and focusing on high quality counterparties.  The Company further manages risk by actively managing key operating costs, a developed commodity hedging strategy to minimise price risk, and diversification of operations across types of crops, livestock production, geographical regions, and water resources.

Operations Management

The Company has contracted Farm Managers to provide day-to-day management of the broadacre farms (subject to the Company’s supervision). The Company management team will supervise and report on the performance of the Farm Managers and be responsible for overall farm operations and administration. The Company’s management team will be responsible for the day-to-day administration of the Company.

The Company has contracted the Investment Manager to assist with the administration aspects of the investment management services, and to identify, assess, propose and execute the broadacre investments.

Investment Manager

The Company has entered into an Investment Management Agreement with Duxton Capital (Australia). The Duxton Group is highly experienced in the alternative assets investment sphere has in excess of A$720 million in assets under management or advice, of which A$535 million comprises agricultural investments. Its agricultural assets are diversified across 21 operations spanning 540,000 hectares of farmland over 30 commodities and five continents.

Board and Management

The Board is highly experienced in the agricultural sphere, with a combined 109 years’ experience amongst them in investing and managing agricultural businesses. This experience extends across both Australian and international agriculture.  The board includes:

  • Ed Peter, CEO and Lead Portfolio Manager – with over 30 years’ experience, Ed was the former head of Deutsche Asset Management Asia Pacific, Middle East and North Africa.
  • Tony Hamilton, Director - has been farming since 1982 and has extensive experience in managing broadacre properties.
  • Stephen Duerden, Director - former COO and Director for both the Complex Assets Investments Team and the Singapore operation of Deutsche Bank Asset Management Asia.
  • Mark Harvey, Independent Director and Deputy Chairman - has more than 35 years of experience in agriculture and agribusiness.
  • Wade Dabinett, Independent Director - has over 13 years' of experience in the Australian grain industry, encompasses grain trading, storage, handling and production.

 

As set out in Section 7 of the Prospectus, Duxton Broadacre Farms Ltd is subject to a range of risks, including but not limited to adverse weather conditions, commodity prices, input costs and illiquidity.

 

Section 734(6) disclosure: The issuer of the securities is Duxton Broadacre Farms Ltd ACN 129 249 243. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).​

IPO
Software & Services
$0.25
Size of Offer $7.5 million
Minimum Bid $2,000.00
Opening Date 7/12/2017
Closing Date 13/12/2017

The CommsChoice Group IPO has closed early via OnMarket.  Payment must be made by 5pm Wednesday 13th December (AEST).

Bids over $5,000 may be scaled back more heavily, and we cannot guarantee that all funded bids will receive an allocation.

CommsChoice Group Limited (ASX: CCG) provides clients with a range of integrated solutions to meet their clients’ information and communications technology (ICT) requirements.  Their products and services are critical to the efficient business operations of almost 3,000 enterprise and business clients in Australia, New Zealand, Singapore and internationally.

With over 50 staff across offices in Sydney, Melbourne, the Philippines and Singapore, the Company provides selection, procurement, implementation and management of over 400 vendor‑neutral products and services.  CommsChoice aims to provide a majority of its clients with a one-stop-shop for all their ICT needs.

The Company’s business model is focussed on the delivery of managed ICT products and services under contract to their clients. Consolidated pro-forma revenues were $20.1 million in FY2017, and are forecast to increase to $27.8 million in CY2018. 

CommsChoice Group global presence

Offer Overview

The $7.5m IPO is fully underwritten by Baillieu Holst Ltd, and post listing the Company will have a market capitalisation of $25.7 million. The Board intends to target an annual dividend payout ratio of 30% to 60% of NPAT.

The purpose of the offer includes; the cash component of the acquisition of the businesses forming part of CommsChoice Group, to provide a platform for CommsChoice to pursue its growth plans, fund working capital and pay the costs associated with the Offer.

Market Opportunity

The total addressable Enterprise and Business ICT markets (ICT solutions and managed services) for CommsChoice in Australia, New Zealand and Singapore was estimated at $54.37 billion in 2016, and is estimated to increase to $92.30 billion by 2022 (a CAGR of 9.2%). This growth is expected to be driven by increased sophistication of technology infrastructure, and growth in internet traffic, cloud computing and VoIP usage. See the Frost & Sullivan report in the Prospectus for more information.

Enterprise and Business ICT Solutions and Managed Services Market in Australia, New Zealand and Singapore, 2016

Source: Frost & Sullivan

Products and Services

CommsChoice uses their proprietary Adaptive Connectivity as a Service (ACaaS) delivery platform to provide advanced solutions aimed at enabling clients to improve business performance and agility of their communications and technology operations and to unlock cost savings and minimise expenses. By operating a vendor agnostic model, they seek to offer clients an unbiased, best available, ICT solution that removes any conflict associated with being the owner of the carrier network infrastructure.

ICT products and services offered by CommsChoice are grouped into:

  • CommsAssure Quality Voice and Data which focuses on the seamless integration of high quality managed data and voice solutions
  • CommsMobilise Total Mobility Management which focuses on the secure and predictable access to ICT products and services, anywhere and anytime on any device
  • CommsConnect Advanced Communications which is focused on the harmonious unification of Cloud and software for ICT connectivity

Revenue Strategy

CommsChoice derives the majority of its revenue through contracted, annuity style service delivery. The Company also generates revenue from service implementation including consulting, licensing, hardware, installation and project management services.

CommsChoice aims to align its interests with its clients and ensures a clear focus on delivering strong business outcomes by generating a third stream of revenue through a share of the savings made to the client’s cost base against the incumbent service cost.

On a pro forma basis, the entities comprising CommsChoice Group generated approximately $20.1 million of revenue and $817,000 of NPATA in FY17, a CAGR of 24.1% from FY15. The Company is forecasting Revenue of $27.83 million, EBIT of $3.42 million and NPATA of $3.38 million in CY18.

Pro Forma FY17 and CY18F revenue mix and gross profit margin by operating division

 

Management and Board

The board and senior management include industry thought-leaders who have an average of more than 20 years’ experience in the ICT industry.  Key personnel include:

  • John Mackay, Independent Non‑Executive Chairman, has over 15 years’ experience as a Chairman and Director of companies in the communications and utilities sectors, and has been Chairman of Speedcast International since 2014.
  • Peter McGrath, independent Non‑Executive Director, has over 30 years’ experience across a variety of banking and telecommunications roles, including being former CEO of Nextgen.
  • Ben Gilbert, CEO, has over 25 years’ experience in corporate finance and strategy roles including 15 years in the telecommunications industry including leadership positions at Singtel‑Optus, AGL, Sinclair Knight Merz.
  • Grant Ellison, Executive Director and Executive General Manger, has over 25 years’ experience in senior strategy and multinational business development roles in the ICT, manufacturing and banking sectors.

 

As set out in Section 5 of the Prospectus, CommsChoice Group Limited is subject to a range of risks, including but not limited to competitive landscape, failure to retain and expand client relationships, intellectual property, disruption or failure of technology systems and the ACaaS delivery platform is not protected through any registered patent.

Section 734(6) disclosure: The issuer of the securities is CommsChoice Group Limited ACN 619 196 539. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).​

IPO
Materials
$0.20
Size of Offer $4-6 million
Minimum Bid $2,000.00
Opening Date 8/11/2017
Closing Date 11/12/2017

Frontier Diamonds Ltd (ASX: FDX) is a diamond mining company focussed on the globally renowned Kimberley region of South Africa.  Post listing, Frontier will own a 74% interest in Sedi Diamonds (Pty) Ltd (Sedi South Africa), the owner and operator of the Star Diamond Mine and Sedibeng JV Mines. 

With an estimated resource base of 1.307 million carats and forecast revenues of US$22.8 million for FY2019, the Directors believe that the Star Diamond Mine and Sedibeng JV Mines produce diamonds of excellent quality and value per carat that are well regarded and keenly sought after by major diamond buyers around the world.

Frontier’s aim is to unlock the potential of the existing producing mines, and to actively investigate growth opportunities through joint ventures and acquisitions. Sedi South Africa’s extensive underground operating experience and in-house engineering expertise is expected to provide a significant competitive advantage in the potential pursuit of such opportunities. 

Diamonds image

Offer overview

Frontier Diamonds Ltd is looking to raise between $4 million and $6 million via its IPO, and will have an estimated market capitalisation of $41.9 million at maximum subscription.  The key purpose of the offer is to provide Frontier Diamonds with funding to:

  • continue to operate and develop Frontier’s key Projects, being the Star Diamond Mine and Sedibeng JV Diamond Mine
  • implement a growth strategy to seek out further exploration, mining, acquisition and joint venture opportunities in Southern Africa

Mining Operations

Star Diamonds is located 12 km North East from the town Theunissen in the Free State Province of South Africa and Sedibeng is located approximately 40 km north of the town Delportshoop and 80 km west of the town of Warrenton in the Northern Cape Province of South Africa.  Both mines have been in operation for over 60 years and all mine infrastructure already exists.

The Diamond Mineral Resources of the Star and Seidbeng mines as at 28 February 2017 was estimated as 4.551 million tonnes (Mt) at 28.7 carats per hundred tonnes (cpht) containing 1.307 million carats (Mct).

Both mines operate a Dense Media Separation (DMS) and Final Recovery Plant capable of treating the Ore Reserve at a head feed rate of 30tph and 50tph or at an average annualised rate of 110,000tpa and 180,000tph respectively. The process uses well proven diamond recovery technology for kimberlite ore.

Business Model

Sedi South Africa’s activities over the previous few years have been to refurbish and re-establish both the Sedibeng JV Mine and Star Diamond Mine from a situation of care and maintenance to return to production. 

Frontier’s aim is to further unlock the potential of the mines by increasing throughput whilst maintaining low operating costs and low capital investments. To support this, Sedi South Africa’s contracted mining team has a proven track record in underground and surface mining operations, with both mines complying with South African regulative control.

The company aims to achieve a long term predictable revenue stream supported by a consistent historical production profile of operations. The high quality diamonds produced by the mines will be sold via established marketing platforms and tender house facilities that the company has access to.

The Company has also recently acquired a tailings processing plant to reprocess significant tailings dumps at the Sedibeng JV Mine, and potentially, surrounding mines.

Financials

During the twelve months to 30 June 2017, Sedi South Africa achieved revenue of US$5.7 million.

During FY2018 the company is forecasting revenues of US$12.9 million, and an operating profit of US$0.3 million, due to increasing mining throughput to 132,002 tonnes per annum and optimised production capacity at the mines.

Optimisation of the mines production capacity and access to higher grade development areas in FY2019 will allow the mine to reach a production capacity of 215,500 tons of primary ore per annum. Revenue of US$23.0 million from the mining activities for the twelve months ended 30 June 2019 is forecast to generate an operating profit of US$7.6 million.

Board and Management

Frontier’s Board has significant expertise and experience in the mining industry including Mr Jan Louw, Managing Director and previous CEO of Frontier Mining Group. Mr Louw has extensive experience in planning, developing and managing large scale open cast and underground mining operations, having worked in senior management positions for Anglo American for 16 years in South Africa and Namibia.

 

As set out in Section 5 of the Prospectus, Frontier Diamond Ltd is subject to a range of risks, including but not limited to exploration and development, limited history, licences and international operations.

Section 734(6) disclosure: The issuer of the securities is Frontier Diamonds Ltd ACN 616 232 556. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).​

OnMarket has a limited allocation. The offer close and the 'Pay By' dates may change. Bids over $10,000 may be scaled back more heavily. Duplicate bids under the same investment profile or investor name may be cancelled.​

Disclaimer: All information on this section is of a general nature. Before making any investment decision, please seek the relevant advice.

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