- 8 AU (8AU) lodges its prospectus with the Australian Securities and Investment Commission (ASIC) to raise up to $12 million under its initial public offering (IPO)
- Between 40 million and 60 million shares will be on offer, priced at 20 cents, to raise between $8 million and $12 million
- 8 AU is a mining exploration company with a focus on gold, lithium, nickel sulphides and platinum group element (PGE) mineralisation in Western Australia
- The board will be led by Bryan Frost, from First Au (FAU), as Executive Chairman and Bevan Wakelam as CEO
- 8 AU is expected to begin trading on the ASX on December 6
8 AU (8AU) has lodged its prospectus with the Australian Securities and Investment Commission (ASIC) to raise up to $12 million under its initial public offering (IPO).
Between 40 million and 60 million shares will be on offer, priced at 20 cents, to raise between $8 million and $12 million.
At the maximum subscription of $12 million, 8 AU will have a market cap of $19 million.
8 AU is a mining exploration company with a focus on gold, lithium, nickel sulphides and platinum group element (PGE) mineralisation in Western Australia.
Its projects include the East Pilbara Gold Project, the Yallalong Nickel and Copper Project, the Plumridge Gold Project, the Eastern Goldfields Project and the Talga Joint Venture (JV) Project with First Au (FAU).
Once listed, 8 AU’s focus will be on the East Pilbara and Plumridge projects, as the board believes they offer the strongest pathway to value accretion.
The board will be led by Bryan Frost, from FAU, as Executive Chairman and Bevan Wakelam as CEO.
Bryan Frost commented on the upcoming IPO.
“8 Au’s Board is comprised of DIrectors who have substantial experience and a successful track record in mining and exploration in Australia and internationally and the company’s technical team is highly qualified with relevant expertise in the style and type of mineralisation being targeted,” he said.
8 AU is expected to begin on the ASX on December 6.