- Auric Mining (AWJ) is due to list on the ASX after launching an initial public offering (IPO) last year
- The gold exploration company sought to raise $6.5 million through the issue of 26 million shares at 25 cents
- This came with one free-attaching option for every two shares, exercisable at 40 cents by October 31, 2023
- The IPO also allowed Auric to accept oversubscriptions of up to a further six million shares at 25 cents each to raise another $1.5 million
- Auric Mining, which will trade under the ticker code ‘AWJ’, said it will use the money to explore and develop three projects in Western Australia
- The miner originally aimed to list on January 10, however, this remains up in the air as it’s waiting for the ASX to give it an official date
- Once it does list on the ASX, Auric Mining will have over 86.62 million shares on issue and is targeting a market cap of roughly $21.65 million
Auric Mining (AWJ) is due to list on the ASX after launching an initial public offering (IPO) last year.
The gold exploration company announced an IPO on November 18 as it sought to raise $6.5 million.
Auric has successfully raised the money through the issue of 26 million new fully paid ordinary shares at 25 cents each. This also came with one free-attaching option for every two shares and exercisable at 40 cents each on or before October 31, 2023.
The IPO also allowed the company to accept oversubscriptions of up to a further six million shares at 25 cents each to raise another $1.5 million.
Auric Mining, which will trade under the ticker code ‘AWJ’, said it will use the money raised to explore and develop the Munda, Jeffreys Find and Spargoville projects in Western Australia.
The WA-based explorer originally targeted January 10 as its official listing date, however, this remains up in the air as it waits on the ASX to give it an official date.
Once it does list on the ASX, Auric Mining will have 86,628,967 shares on issue and is targeting a market capitalisation of roughly $21.65 million.