Chalice fills IPO

New gold explorer Chalice Gold Mines Ltd has raised $7.5 million under its initial public offer ahead of a planning listing on the Australian Stock Exchange later this month. Chalice was spun off from base minerals and uranium explorer Bullion Minerals Ltd and has five projects in WA. Chalice executive chairman Andrew Bantock said the company had raised the maximum required amount under the IPO. “We were delighted by the positive response from a broad range of institutional and retail investors who have given a strong endorsement to the company’s exploration plans,” he said. “As a result, we are looking forward to rapidly drilling our gold targets in WA, including at Higginsville near Avoca Resources’ Trident discovery.” Bullion Minerals decided to divest its gold projects to focus on uranium and has plans to rename the company Uranium Equities.

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