05/06/2008 - 12:03

Richmond closes $3.5m IPO

05/06/2008 - 12:03

Bookmark

Save articles for future reference.

Belmont-based mineral exploration company Richmond Mining Ltd expects to list on the stock market next week after its initial public offer closed oversubscribed.

Richmond closes $3.5m IPO

Belmont-based mineral exploration company Richmond Mining Ltd expects to list on the stock market next week after its initial public offer closed oversubscribed.

Richmond plans to use $3.1 million of the capital raised from the $3.5 million IPO exploring its suite of projects that include nickel, gold and uranium targets.

Its flagship project is the Loongana nickel project on the Nullabour plain and overall has four mining projects in the state WA and one in NSW near Canberra.

The company plan to drill test three of the five projects by Christmas.

Sitting on Richmond's board is chairman Howard Dawson, director Jim Malone and non-executive director Greg Barns.

The Richmond Mining registry includes former Multiplex chairman Andrew Roberts,
Fremantle Dockers coach Mark Harvey, ex Richmond and Eagles footballer Mark Merenda, local mining entrepreneur Bill Clough and mining analyst Warwick Grigor.

Both the Richmond and Swan Districts Football Clubs will also benefit from the
listing of the company, with Mr Malone and Mr Dawson donating shares from their personal allocation to the two Australian Rules football teams.

MrDawson is a director of WAFL club Swan Districts, while Mr Malone has had a long history with AFL team Richmond.

The company expects to start trading on or around 12 June.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options