Perth-based gold, base metals and uranium miner Peak Resources Ltd has launched its initial public offer to raise $4 million for a scoping study on its Menzies gold projects, 140km north of Kalgoorlie.
Issuing 20 million shares at 20c each, the shares will comprise 43 per cent of the company's total issued capital.
The company's non-executive chairman, Paul Price, is a partner in Perth law firm Price Sierakowski, and also serves as non-executive director of Mobilarm Ltd and Terrace Capital Ltd. He is joined on the board by former Placer Dome (Granny Smith) Pty Ltd senior exploration geologist Kell Nielsen as executive technical director, with Nick Money and Pacrim Energy Ltd managing director Rodney Foster as non-executive directors.
Peak managing director Mark Maine currently serves as non-executive chairman of Newera Uranium Ltd and a non-executive director of Pacrim Energy Limited, Balkans Gold Limited and KLM Group Limited. According to the company's prospectus, Mr Maine is planning to reduce his non-executive appointments following Peak's listing on the ASX.
Mr Maine, who co-founded the company with Mr Foster in October 2005, also serves as company secretary.
PKF Chartered Accountants and Business Advisors are acting as auditors to the deal, with DJ Carmichael Pty Ltd acting as sponsoring broker. Moore Stephens Perth Corporate Services Pty Ltd will act as investigating accountant, with Price Sierakowski acting as company solicitors.
The deal is not underwritten. The offer will open on September 8, and close on October 10, 2006.
