Orpheus Minerals launches $6m IPO to fund domestic uranium exploration

Parent company Argonaut Resources will retain a 26.9% interest in Orpheus Minerals once the IPO is complete. The discovery of greenfield uranium deposits in South Australia and the Northern Territory will be the focus of ASX debutant Orpheus Minerals when it hits the boards this month.

Orpheus has launched a $6 million initial public offering to kick-start exploration and provide funds for it to chase high-grade sandstone or sediment-hosted and unconformity (hard rock) deposits. The company will also have a significant project generation budget with the aim to expand and build its pipeline.

Orpheus’ IPO will be based on the issue of a minimum 30 million shares at $0.20 each and will comprise a $3 million priority offer for Argonaut shareholders and a $3 million broker firm and general public offer.

Argonaut will retain a 26.9% interest following completion of the offer.The offer is being led by Adelaide based broker Taylor Collison […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet