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- Iceni Gold (ICL) is gearing up to make its debut on the Australian Securities Exchange (ASX) on Wednesday, April 14
- The gold explorer raised $20 million via an initial public offering (IPO) with 100 million shares to be issued at 20 cents per share
- That should give the company an initial market cap of around $43.8 million once it begins trading under the ticker code ICL
- Iceni is planning to use part of the IPO funds to explore its flagship 14 Mile Well Project in WA’s Laverton region
- The project contains six identified targets where the company wants to carry out reverse circulation and diamond drilling
- At the helm of Iceni is Brian Rodan, who previously led Dacian Gold (DCN), Siren Gold (SNG) and Australian Contract Mining
Iceni Gold (ICL) is gearing up to make its debut on the Australian Securities Exchange (ASX) after a successful IPO.
The gold exploration company is scheduled to begin trading on the ASX on Wednesday, April 14, under the ticker code ICL.
Ahead of the listing, the gold explorer has raised $20 million via an initial public offering (IPO).
Under the IPO, up to 100 million shares will be issued at 20 cents per share to prospective shareholders and investors.
The IPO offer opened in March and closed several weeks later. The IPO will give the company an initial post-listing market cap of around $43.8 million.
Iceni stated in its prospectus that it is planning to use part of the IPO funds to explore its flagship 14 Mile Well Project in WA’s Laverton region.
The project contains six identified targets, where the company wants to carry out reverse circulation and diamond drilling to further test the areas.
ICL believes it has a strong leadership team to help it achieve its goals at 14 Mile Well, with Brian Rodan, previously from Dacian Gold (DCN), Siren Gold (SNG) and Australian Contract Mining, heading up the venture.
“The board have significant expertise and experience in the gold exploration and development industry and will aim to ensure that funds raised through the offer will be utilised in a cost-effective manner to advance the company’s business,” he stated.
Ahead of the company being added to quotation, Iceni was officially admitted to the ASX on Monday, April 12.
