13/11/2007 - 15:05

Eagle Nickel launches $9m IPO

13/11/2007 - 15:05

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Perth-based Eagle Nickel Ltd has opened its initial public offer, aiming to raise $9 million to fund exploration on its 11 nickel, uranium, molybdenum and platinum projects.

Perth-based Eagle Nickel Ltd has opened its initial public offer, aiming to raise $9 million to fund exploration on its 11 nickel, uranium, molybdenum and platinum projects.

The company, which will issue 30 million shares at 30 cents each to raise the money, was incorporated earlier this year as Uranium and Nickel Ltd.

After raising the money, Eagle plans to focus on its four nickel tenements, aiming to ramp up its efforts at its five uranium tenements and two molybdenum projects at a later date.

The offer is not underwritten.

The company is chaired by Uranium Oil and Gas and Actinogen chairman Zhukov Pervan. He is joined on the board by managing director Leslie Field, John Watts and David Zohar, who also serves as company secretary.

Sydney-based stockbrokers Cameron Stockbrokers Ltd will act as sponsoring brokers to the deal, with Perth's Lawton Gillon to provide legal advice. BDO Kendalls will serve as auditor and investigating accountant.

The offer, which opened yesterday, will close on December 11.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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