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 […]

Click here to view original web page at smallcaps.com.au

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.