- Koonenberry Gold has floated IPO to get listed on the ASX.
- The Company operates a large tenement area in the NSW region.
- The Company is planning to raise AU$10 million through its IPO at an issue price of AU$0.2 per share.
- The IPO will close for bidding by 30 July 2021, and the tentative date of listing the shares on ASX is 30 August 2021.
The NSW based gold explorer Koonenberry Gold Ltd is all set to get listed on the Australian Securities Exchange (ASX). The Company is looking to raise AU$10 million through its initial public offering (IPO), which opened for bidding on 12 July 2021 for the retail investors. The bidding will close on 30 July 2021, and the shares are expected to hit the market by 30 August 2021.
Copyright © 2021 Kalkine Media
Koonenberry Gold is an Australian gold explorer engaged in a gold exploration and development project in New South Wales (NSW). The Company owns and operates Koonenberyy Gold Project, spread across 1,339 km2 and comprises 12 Exploration Licenses. The Company holds 100% interest in the project through its fully owned subsidiary Lasseter Gold Pty Ltd.
Project in exploration phase (Copyright © 2021 Kalkine Media)
Koonenberry has already spent AU$4 million on the project exploration activities. The Lucky Seven prospect is drill ready and is the most advanced prospect on an operational basis. The prospect has a strike length of >2.5 km and mineralisation remains open at depth and along the strike.
How to subscribe for the IPO
To subscribe for the IPO of Koonenberyy Gold, investors need to consider the below points before bidding.
- Investors need to fill in and complete an application form found in the prospectus, which can be obtained from respective brokers.
- There can be limitations on the number of shares/lot that can be subscribed for, from one single account.
- Upfront payment is required to be made via check or by means of online payment.
- It is not obligatory that each individual gets the allocation of the shares. In case of oversubscription, some investors may not get their applied shares. In that case a full refund of the money will be made by the brokerage house.
Key figures and dates to keep in mind
Data Source: Koonenberry Gold prospectus
What is working in favour of the Company
- The Company has a highly experienced management and Board lead by Mr John Elkington as the Chairman of the Company.
- With limited exploration over the tenement package, the opportunity for improvement in resource potential exists.
- Koonenberry has found evidence of high-grade mineralisation in multiple bedrock sources.
- The tenement lies along the Koonenberry Fault, home to an orogenic gold belt with potential to host large deposits.
Investors need to go through Company reports and presentation to gather more data and information. They should weigh in all options while looking into a junior exploration company. The project is drill ready, but there is very less historical exploration data available for the tenement area.