20/01/2017 - 11:50

Huntsman launches $4.5m IPO

20/01/2017 - 11:50

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Perth-based gold exploration company Huntsman Resources is seeking to list on the ASX with the launch of its prospectus for a $4.5 million initial public offering.

Huntsman launches $4.5m IPO
Nigel Ferguson says an ASX listing is a key milestone for Huntsman Resources. Photo: Attila Csaszar

Perth-based gold exploration company Huntsman Resources is seeking to list on the ASX with the launch of its prospectus for a $4.5 million initial public offering.

Huntsman, which is led by former Ashanti Goldfields (now AngloGold Ashanti) manager Nigel Ferguson and chaired by Amani Gold chairman Klaus Eckhof, is seeking to raise up to $4.5 million through the issue of 22.5 million shares at 20 cents each, with a minimum target of $3.5 million set.

The company’s flagship asset is its Mambasa project, located in the Democratic Republic of Congo, which it owns in a joint venture with an unnamed partner, and its wholly-owned Crackerjack project near Halls Creek.

“We are very pleased to be in the process of transitioning into a listed company and will continue to work with enthusiasm and dedication in order to reach this key company milestone,” Mr Ferguson said.

“The company has assembled a highly skilled team that specialises in the identification, exploration and discovery of gold systems, with particular experience and success in the DRC and Australia.

“Securing the services of industry heavyweight, Klaus Eckhof as chairman of Huntsman, gives us a quantum lift in demonstrating how to find gold and mine it with the great success he has already demonstrated in the DRC.”

Fiscus Capital is acting as lead manager to the IPO, with Lyons Babington as solicitor, and RSM as investigating accountant.

Huntsman is on a roadshow for its IPO, and has earmarked February for an ASX debut.

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