- Shares of Tambourah Metals are scheduled to start trading publicly on the ASX on 20 August 2021.
- Tambourah Metals is offering 25,000,000 shares at an issue price of AU$0.20 per share to raise AU$5,000,000.
- The mining and exploration company has appointed Ventnor Securities Pty Ltd (Ventnor Securities) as lead manager to the offer.
Shares of Tambourah Metals are scheduled to start trading publicly on the ASX on 20 August 2021. Tambourah Metals, which has a proposed ASX code TMB, is offering 25,000,000 shares at an issue price of AU$0.20 per share to raise AU$5,000,000.
According to the initial public offering (IPO) prospectus, oversubscription of up to a further 15,000,000 shares at an issue price of AU$0.20 per share, to raise a further AU$3,000,000 may be accepted at the discretion of the Directors of the company.
Tambourah Metals, which is a mining and exploration company, has appointed Ventnor Securities Pty Ltd (Ventnor Securities) as lead manager to the offer. The offer is not underwritten.
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Purpose of offer
As per the prospectus, the primary purposes of the offer are to:
- Assist the company to meet the admission requirements of the ASX
- Provide the company with additional funding for the proposed exploration programs at the Tambourah and Cheela Gold projects.
- Repaym the working capital loan provided by Baracus Pty Ltd.
- Pay AU$250,000 to Baracus as reimbursement of rents and rates paid by the latter.
- Consider acquisition opportunities that may be presented to the Board from time to time
- Meet the working capital requirements while the company is implementing the above
How to invest in Tambourah Metals IPO
Investors can apply for shares by completing the application form attached to the prospectus.
While the opening date for Retail Offer was 3 July 2021, the closing date is 9 August 2021. Thus, retail investors can participate in the IPO between these dates. Else, they will have to wait till the company goes public to buy its shares.
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The company expects the initial holding statements to be dispatched by standard post on or about 13 August 2021.
The company also said in its prospectus that the completed applications and payments under the offer must be received by the Registry (Automic) by the closing date 9 August 2021.
About Tambourah Metals
Established in 2020, Tambourah Metals aims to develop high quality gold and nickel projects. Tambourah Metals has four main projects, two advanced gold projects (Tambourah and Cheela) and two Nickel-PGE-Gold (Achilles and Julimar North) projects.
The Board consists of Rita Brooks (Executive Chairperson), Chris Ramsay (Non-Executive Director) and Ben Donovan (Non-Executive Director).