Perth-based gold and base metals explorer Noah Resources NL has launched its prospectus, aiming to raise $3 million in its initial public offer to fund exploration of its tenements in New South Wales.
The company, which will issue 15 million shares at 20 cents each to raise the money, has three 100 per cent-owned tenements in the Lachlan Fold Belt of New South Wales.
It also has the right to earn up to a 70 per cent interest in Monaro Mining NL's Mount Paynter and Wymah tenements in the same region.
The offer is not underwritten and oversubscriptions will not be accepted.
Noah Resources is chaired by Chrome Corporation managing director Brian Thomas. He is joined on the board by Paul Davey, Harvest Exploration Pty Ltd principal Mart Rampe and Jay Stephenson, who will serve as company secretary.
The company has retained Montagu Corporate Pty Ltd as corporate adviser, while Montagu Stockbrokers Pty Ltd will serve as sponsoring broker. William Buck WA Pty Ltd will act as independent accountant, while William Buck Assurance Services WA Pty Ltd will serve as auditor. Legal advice will be provided by Christensen Vaughn.
The offer, which opened on October 30, is due to close on November 26.