Valiant Gold (ASX:VAL) is listed on the Australian Securities Exchange for the first time, raising $75 million from its initial public offering (IPO) which attracted “strong support” from both institutional and retail investors.
Proceeds will be used to advance restarting, exploring, and developing the Comet and Reedy Projects, 25km southeast and 40km north of Cue respectively.
The emerging gold company has also secured an ore purchase agreement with Westgold Resources’ (ASX:WGX) Big Bell Gold Mine, 30km northwest of Cue.
The deal involves selling ore from projects to the mine for mineral processing at the Meekatharra processing hub. Potentially between 15,000 and 50,000 wet tonnes of ore is available for delivery to the hub each month.
“With the IPO now complete the company is well funded and ready to get on with the job, progressing restart activities and drilling to unlock value across Comet and Reedy,” CEO and Managing Director Brendan Tritton says.
“I would like to sincerely thank everyone who played a role in bringing Valiant to market including our team, the board and management at Westgold, and our advisers Argonaut, Thomson Geer, Deloitte, Palaris and Entech. This has been a genuine team effort and we are excited about what comes next.”
Valiant Gold is an emerging gold company with assets in Western Australia’s Murchison region.
Write to Richard Szabo at Mining.com.au
Images: Valiant Gold
