This one is open with Bell, another Gold digger, anyone interest?
8AU is seeking to raise up to $12 million ahead of a listing on December 3, with the funds set to help the development of its Western Australia-based exploration projects.
The company has a range of projects throughout WA, including the East Pilbara Gold Project about 100 kilometres to the west of De Grey’s big Hemi discovery, the Yallalong Ni & Cu Project near Geraldton, the Plumridge Gold Project siting between the Tropicana Gold mine in the north and Nova Bollinger base metal project to the south and the Eastern Goldfields Project sitting around the 20moz Zuleika Shear just to the northwest of Kalgoorlie.
8AU will list with a market capitalisation of around $19 million, with the offer priced at 20¢.
Bell Potter is on board as lead manager for the float. Bells presence on the IPO is no surprise given its long association with Frost via experienced resources broker Les Owen.
Frost will have a 20 per cent shareholding in 8AU when it lists. Frost led De Frey Mining and Atlas Iron through ASX floats and was the co-founder of boutique investment bank Peregrine Corporate.
Former Scantech International sales and marketing manager Bevan Wakelam is CEO of 8AU, while Podium Minerals’ Clayton Dodd is on the board, alongside Damon O’Meara.
