Ironbark seeks $3m

WEST Perth-based gold explorer and developer Ironbark Gold Ltd has launched its initial public offering, aiming to raise $3 million through the sale of 15 million shares at 20 cents each. Ironbark holds a 100 per cent interest in three NSW projects. The company aims to commence mining at its Belara project, five kilometres west of Goolma, and continue explorations at its settlements in Stuart Town, 62km north of Orange, and Pambula, 1km north-west of the coastal town of Eden. Non-executive chairman Peter Bennetto, a founding director of Anaconda Nickel, heads a team that includes executive managing director Jonathan Downes and executive technical director Adrian Byass. Both of these executives have served on the boards of Andrew Forrest-linked Siberia Mining Corporation Ltd (now owned by Monarch Resources Ltd) and Hibernia Gold (now Moly Mines Ltd). The offer, which is not underwritten, will have Mack and Co as auditor and investigating accountant. Applications will open on July 10 and close at 5pm on August 4. The company expects to list on the ASX by August 16 2006.

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