- Type: IPO
- Total Round Size (min): AUD$2,000
- Total Round Size (max): AUD$500,000
- Price per share: A$0.25
- Lead manager: Conrad Capital Group
Auric Mining ASX Listing
Auric is a gold exploration company with the purpose of acquiring, exploring and developing gold projects in the Widgiemooltha and Norseman regions of WA.
Auric Mining Limited (ACN: 635 470 843) (AWJ.AX) is completing an ASX listing as per the prospectus attached below.
The public offer contained in this prospectus is to list on the ASX (AWJ.AX) through an offering of 26,000,000 ordinary shares at $0.25 each to raise up to $6,500,000 (before costs), with oversubscriptions up to a maximum of 6,000,000 shares worth $1,500,000.
The offer also includes options with an exercise price of $0.40 and an expiry date of 31 October 2023. These will be issued free attaching on a one for two basis to every person issued shares pursuant to the offer under the attached prospectus.
Auric Mining Limited is an Australian unlisted public company. The Company was incorporated on 12 August 2019.
Auric Mining is very pleased to welcome the vendors of its gold assets to its Register. They are ASX listed Mincor Resources Ltd (MCR.AX) and Estrella Resources Ltd (ESR.AX).
The IPO book has been well supported by the networks of Auric’s directors, promoters and it’s broker Conrad Capital Group.
Equitise has been allocated an exclusive $500,000 portion of the round. While investors are taking an allocation, Equitise reserves the right to scale back larger investments.
Auric Mining Prospectus
Auric Mining Limited (ACN 635 470 843) is an Australian unlisted public company incorporated on 12 August 2019 for the purpose of acquiring and then proceeding to explore and develop gold projects in the Widgiemooltha and Norseman regions of Western Australia.
On admission to the Official List, the Company’s gold projects will include the:
By virtue of the Company’s wholly owned subsidiary Widgie Gold Pty Ltd holding a 100% legal and beneficial interest in M15/87 (other than the nickel and lithium rights which are owned by Mt Edwards Pty Ltd) and L15/414, of which M15/87 was acquired, together with rights in respect of L15/397, from WA Nickel Pty Ltd (a wholly owned subsidiary of Estrella Resources Limited) upon completion under the Munda Project Tenement Sale Agreement (summarised at Item 1 Part III of the Solicitor’s Report on Tenements).
Jeffreys Find Project
By virtue of the Company’s wholly owned subsidiary Jeffreys Find Pty Ltd holding a 100% legal and beneficial interest in M63/242, which was acquired from Mincor Resources NL upon completion under the Jeffreys Find Tenement Sale Agreement (summarised at Item 2 Part III of the Solicitor’s Report on Tenements).
In which the Company’s wholly owned subsidiary Spargoville Minerals Pty Ltd will acquire a 100% legal and beneficial interest in E15/1688 (application) and E15/1689 from Mariner Mining Pty Ltd upon completion under the Spargoville Tenement Sale Agreement (summarised at Item 3 Part III of the Solicitor’s Report on Tenements).
The Projects comprise two gold exploration and development projects and one exploration project in the West Australian goldfields, in an area extending from 35 km southwest of Kambalda to 45 km northeast of Norseman.
Key Offer Statistics
Proposed Exploration and Development
The substantial amount of exploration drilling by previous holders of the Tenements, and resource drilling and estimation of Mineral Resources at the Munda and Jeffreys Find Projects has provided the Company with a strong basis for planning future work. The proposed exploration and development activities are further described in the Independent Geologist’s Report in Annexure A.
Budgets based on receiving the Full Subscription under the Offer and alternative budgets based on receiving the Maximum Subscription under the Offer are described below. In all cases, the Company’s exploration and development budgets will significantly exceed the minimum statutory expenditure requirements for each of the Project tenements.
Proposed Use of Funds
Please see section 5.9 of the Prospectus for more information.
You are encouraged to carefully read and consider the attached prospectus for the offer. The Company and any associated investment carry a number of key risks that are detailed in Section 7 of the prospectus.
The issuer making this offer is Auric Mining Limited. A person should consider the prospectus in deciding whether to acquire securities. Anyone who wants to acquire securities will need to complete the application form that will be in or accompany the prospectus on the Equitise platform.
This offer is being made by Equitise (CAR) Pty Ltd as Corporate Authorised Representative of OpenMarkets Australia Limited ACN 090 472 012 ASFL 246705