Gold Mining Journal
Star Minerals Ltd is the latest among a throng of gold hopefuls looking to capitalise on strong spot prices amid a busy IPO pipeline.
A spinoff organisation of Bryah Resources, Star Minerals, recently announced a significant funding acquisition of US$3.6mn (A$5mn) ahead of its listing on a local stock exchange, expected to take place in October. The funding has been raised to assist Star with its plans to acquire Tumblegum South holding—its parent organisation, which is expected to cost A$500,000, along with nine million shares and seven million performance rights.
Star Minerals, is a gold explorer in Western Australia, with its primary focus on the gold and copper industries. With the aim of advancing exploration capabilities, the company’s plans to acquire Tumblegum South—located 40km from Meekatharra, Western Australia—will open it up to potential resources of around 600 kilotonnes, a figure that was measured from the drilling of 49 holes, covering 5,640 metres of drilling between 2013 and 2019.
Global Mining Review
Perth-based Star Minerals has announced that it has received AUS$5 million in pledges and its gold Initial Public Offering (IPO) is on track to launch on the Australian Securities Exchange (ASX) in the first week of October 2021.
Australian gold explorer Star Minerals, a spinoff of Bryah Resources (ASX: BYH), said on Tuesday it had secured A$5 million ($3.6m) ahead of its listing on the local exchange in October after Sydney-based Magnolia Capital Group pocketed half of the total raised.
Business News [subscription]
Gold explorer Star Minerals is on track to list on the ASX next month, having received a $2.5 million investment from Magnolia Capital.
The West Australian [subscription]
Bryah Resources’ gold spin-off Star Minerals has easily raised $5 million in an initial public offering ahead of its listing on the ASX early next month.
Sydney-based Magnolia Capital Group has pledged to take up $2.5m of the $5m sought under the offering.
Financial Review [subscription]
Magnolia Capital Group has cornerstoned Western Australia gold miner Star Mineral’s $5 million IPO, taking up half of the total raise.
Star Minerals will use the funds to acquire ASX-listed Bryah Resources’ Tumblegum South holding for $500,000 cash, 9 million shares and 7 million performance rights. Bryah announced this transaction in March.
Interview with CEO Greg Almond
Four Western Australian explorers are preparing to list on the ASX, having launched initial public offerings to raise a combined $34 million.
Western Australia-based Star Minerals is close to launching an initial public offering (IPO) with the goal of funding the development of the advanced Tumblegum South gold project.
Small Caps’ upcoming IPOs page offers investors a preview of companies that are currently planning to list on the ASX (Australian Stock Exchange) and access to live deals. We include details of the IPO (Initial Public Offering) including company name, ASX code, issue price, capital sought and more. Investors can also view and track the performance of companies that have recently listed.
Star Minerals CEO Greg Almond introduces the company ahead of their IPO [audio interview]
STAR Minerals has struck a series of deals, including with Bryah Resources and Bryah’s original parent Australian Vanadium, it believes are sufficient to get it listed, and help fund development of the small Tumblegum South deposit.
Partners Australian Vanadium and Bryah Resources are also progressing with the proposed spin-off of Star Resources that holds a non-core gold exploration asset.
Australian Vanadium Limited will keep a close watch on an aircore drilling program conducted with partner Bryah Resources Ltd (ASX:BYH) at the Gabanintha Project in WA primarily targeting nickel-copper-gold-PGE and additional critical metals.
Greg Almond, CEO of soon-to-be-listed Star Minerals, introduces the gold explorer to Proactive's Andrew Scott. Its flagship asset is Tumblegum South in Western Australia which has an existing resource estimate totalling 600,000 tonnes at a grade of 2.2 g/t Au.
6PR - Bulls N' Bears
Listen to soon-to-be-listed Star Minerals CEO, Greg Almond, talk to Matt Birney on the Bulls N’ Bears Report about Star’s upcoming ASX listing of its gold projects in the north of WA.
Star Minerals has set itself the ambitious goal of starting gold mining within 12 months of completing its planned initial public offering.
While most new resource plays start with prospective ground and are lauded for starting exploration right off the bat, the company isn’t satisfied with just remaining an explorer and has set itself some lofty goals.
Star Minerals already has an inferred resource of 600,000t grading 2.2 grams per tonne (g/t) gold for 42,500oz of contained gold at Tumblegum South.
Level 185 Havelock StreetWest PerthWA 6005
+61 8 9321 0001 firstname.lastname@example.org www.starminerals.com.au
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