Comet Resources Limited Prospectus

For an offer of 135,000,000 Shares at an issue price of $0.20 per Share to raise $27,000,000 (Public Offer).

The Public Offer comprises:

• (a)a priority offer to Comet Shareholders as at the Priority Offer Record Date (Priority Offer); and
  
• (b)an offer to the general public (General Offer).

This Prospectus also contains the Secondary Offers detailed in Section 4.2 of this Prospectus (together with the Public Offer, the Offers).

The Offers are conditional upon satisfaction of the Conditions, which are detailed further in Section 4.4. No Shares will be issued pursuant to this Prospectus until those Conditions are met.

This Prospectus is a re-compliance prospectus for the purposes of satisfying Chapters 1 and 2 of the ASX Listing Rules and to satisfy the ASX requirements for re-admission to the Official List following a change in nature and scale of the Company’s activities.

Joint Lead Managers: Peloton Capital Pty Ltd and Jett Capital Advisors, LLC.

IMPORTANT NOTICE

This document is important and should be read in its entirety. If, after reading this Prospectus you have any questions about the Shares being offered under this Prospectus or any other matter, then you should consult your professional advisers without delay.

The Shares offered by this Prospectus should be considered as highly speculative.

Not for release to US wire services or distribution in the United States except by the Company to Institutional Accredited Investors

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