West Perth-based gold and base metals explorer Stirling Minerals Ltd has announced plans to raise $3.5 million in its initial public offer to fund exploration of its Quidong project in south-eastern New South Wales.
The company, which will offer 17.5 million shares at 20 cents each, has acquired 100 per cent of the mineral rights to the site through its subsidiary, Quidong Minerals Pty Ltd.
Max Capital director Tony King will serve as managing director to the company, being joined on the board by non-executive directors Suzie Foreman and Jason Bontempo, with Mark Bianchini as company secretary.
The offer is not underwritten and oversubscriptions will not be accepted.
Stirling has retained Rix Levy Fowler as auditor and investigating accountant to the offer, with Grange Consulting Group Pty Ltd acting as corporate adviser. Steinepreis Paganin serves as solicitors to the company.
The offer, which opened on April 26, will close on May 22.
