lucknow gold ipo

Interesting IPO, the Prospetus is available at their website.....

www.lucknowgold.com

There is also some information on the commsec website in their IPO Centre section. Looks like they are the Lead Manager. The following investment highlights are from the CommSec site.

Investment Highlights

Lucknow Goldfield under-explored

• Mining at Lucknow ceased after 1906 (apart from a short period in the 1930s) due to technological limitations and labour shortages associated with the first and second world wars
  
  
• No diamond drilling has been conducted by any previous explorer
  
  
• No reverse circulation drilling has been conducted outside of a limited number of shallow holes in existing underground workings

Track record of high grade production at Lucknow

• At least 20 tonnes of Gold has been mined from the Lucknow Goldfield
  
  
• Gold grades achieved during mining at Lucknow (1851-1906) made Lucknow one of the highest grade gold mines both in Australia and internationally
  
  
• Samples of ore at Lucknow show gold in association with massive sulphides which are easily identified using modern geophysical methods never used at Lucknow
  
  
• Gold previously mined at Lucknow was easily and cost effectively recovered

Valuable geological data accumulated

• Compiled historic information has allowed the Company to develop a greater understanding of the Lucknow Tenement
  
  
• The Company has consequently been able to develop a comprehensive 3D model of the Lucknow underground workings. The model allows optimisation of potential strikes and minimises exploration risk
  
  
• The structural integrity of Lucknow style gold mineralisation increases chances of finding further ore bodies

Well credentialed major shareholder

• Gold and Copper Resources Pty Ltd (Gold and Copper) will be the largest direct shareholder following the Offer (33.46%)
  
  
• Gold and copper is 50% owned by the Friedland family. Members of the Friedland family include Robert Friedland (Chairman Ivanhoe Mines Limited) and Govind Friedland (Director of Gold and Copper)
  
  
• The company has a Memorandum of Understanding with Gold and Copper regarding future exploration cooperation

Exposure to strong gold prices

• Gold prices over the past ten years have climbed from $US300 per troy ounce in May 1998 to greater than $US900 per troy ounce in July 2008
  
  
• Potential investors should note that past performance is no indication of future performance