West Perth-based tin and tungsten exploration company Kasbah Resources Ltd has announced plans to raise $10 million in its initial public offer, to fund feasibility studies on its Moroccan tenements.
The company will issue 40 million shares at 25 cents each for the offer with no oversubscriptions to be accepted, in a deal which is not underwritten.
Kasbah is chaired by former Ampolex Ltd and Normandy Mining Ltd chief financial officer Graeme Walker in a non-executive capacity, with Wayne Bramwell as managing director. Robert Weinberg and Rod Marston also sit on the company board as non-executive directors, with Peter Youd as company secretary and Peter Hepburn-Brown as technical director.
The firm, which was incorporated in October 2005, and became a public company in May last year, has retained Argonaut Capital as its corporate adviser, with Argonaut Securities acting as broker to the offer.
BDO Chartered Accountants & Advisers will act as Auditor to the company, with BDO Consultants (WA) Pty Ltd serving as Investigating Accountant. Steinepreis Paganin will serve as solicitors to the company.
The offer opened yesterday, and is due to close on April 5.
