Gold explorer Expose Resources is planning an ASX listing this year with a star-studded management team and an interesting project in WA’s eastern goldfields.

Right now Expose is undergoing a pre-initial public offering seed placement to professional investors to raise $500,000 at 10c per share.

Expose hopes to follow that with a $4.5 million IPO selling shares at 20c. That would value the company at $4.5m.

After listing the company would have about 43.5m shares on issue — and a market cap of about $8.7 million. Some 11 million shares would be held by the founders.

Expose executive chairman Adrian Fleming is said to have the ‘golden touch’ after a history of big discoveries and big deals.

Mr Fleming was part of the teams that made gold discoveries at the Porgera mine in PNG, Big Bell in Western Australia, Gross Rosebel in South America, and – most recently – White Gold in Canada.

Those mines have produced more than 23 million ounces of gold in total.

The location of Expose Resources' flagship Red Gate gold project in the Eastern Goldfields of Western Australia.
Expose’s flagship Red Gate gold project in the Eastern Goldfields of Western Australia.

Mr Fleming also founded Canadian junior Underworld Resources in 2006 which was acquired by gold major Kinross in 2010 for about $141 million.

Underworld listed with a share price of 55c. Four years later the takeover valued its shares at about $2.84.

He was also founding director of Northern Empire Resources which has just been acquired by Northern American miner Coeur Mining for $127m.

Expose’s focus will be bringing its flagship Red Gate gold project into production, with drilling to kick off immediately following its listing.

Previous exploration has returned shallow, high grade gold – including 12m at 9.2 grams per tonne 8m from surface, and 10m at 8.5 grams per tonne 9m from surface.

Anything above 5 grams per tonne is considered high grade.

Expose will also look supply ore to one of three operating gold mills in the region — avoiding the need for substantial plant development costs.

And little exploration has taken place over 80 per cent of its tenements which means there are opportunities for further gold discoveries, according to the company.