Emerging minerals explorer, Dynasty Metals Australia made its
yesterday on the Australian Stock Exchange, after completing a
$2,7-million Initial Public Offering (IPO) based on a diverse
portfolio of gold, nickel, uranium and iron ore interests in
Victoria and Western Australia.
Dynasty closed its IPO on November 24, after raising $2,7-million
through the issue of 13,5-million shares at 20 cents each.
Once listed, Dynasty will offer shareholders the opportunity to
participate imobile crushing system silica sandn a non-renounceable option issue on a one-for-one
basis with a record date anticipated approximately six weeks after
listing.
The options will be issued at one cent with an exercisecrusher machines for stone price of 20
cents each and an expiry date of February, 29, 2008.
Dynasty MD Richard Stanger said the response to the IPO had been
pleasing, with strong interest from investors Australia-wide.
<bmobile crushing plant for sale ukr />
“Dynasty is emerging as a serious explorer with quality
projects at an exciting time in the market with the gold price
above $500 per ounce and uranium prices at historic highs,”
he saidimpact crusher hand book.
“Funds raised through the ASX listing will give us the
ability to advance and develop the projects outlined in our
prospectus.”
The company has assembled a portfolio of 100%-owned tenements
focusing on two main target areas, Victoria and Western Australia,
with eight projects, namely Bright and Bendoc in Victoria and
Laverton, Stella Range, Gascoyne Uranium, Yanrey, Hyden and North
Shaw in Western Australia.
On listing, Dynasty plans to immediately commence its first drill
program at the Bendoc gold project in Victoria where grades of up
to 12,5 g/t gold have previously been reported from the Victoria
Star Mine.
The Bendoc project covers an area of 475 km2 approximately 400 km
northeast of Melbourne, within the Lachlan Fold Belt adjacent to
the New South Wales border and contains 60 historic mines and
workings with reported gold production of around 40 000 oz.
The company’s other Victorian project, Bright, which has reported
historic gold production of over 350 000 ounces, contains over 250
named gold reefs, only two of which have been subject to recent
exploration.