Argonaut acted as Joint Lead Manager to a $10.2m Placement for Xanadu Mines Limited (ASX:XAM). The Offer was underpinned by strong support from a number of domestic and international institutional and sophisticated investors. Concurrently with the Placement, the JLMs facilitated a $1.4m sell down for a certain shareholder.
The Company is now well positioned to deliver its Kharmagtai exploration strategy, targeting resource growth and further definition of high-grade bornite-rich zones.
Argonaut is delighted to support Xanadu and looks forward to the Company’s ongoing success.
Additional information regarding Xanadu can be found on the Company’s website at http://www.xanadumines.com/