Argonaut acted as Joint Lead Manager to successfully raise $10 million for Apollo Consolidated Limited (ASX: AOP) (“Apollo” or the “Company”) at an issue price of $0.21 per share by way of a placement (“Placement”). The Placement was underpinned by strong support from institutional and sophisticated investors, which resulted in the capital raising being significantly oversubscribed.
Funds from the Placement will be applied towards a ramp-up of RC and diamond drilling activities at Apollo’s flagship Lake Rebecca Gold Project to expand the maiden +1Moz JORC 2012 Mineral Resource, appropriate optimisation studies, delineation work and general working capital.
Argonaut is delighted to continue to provide support to Apollo and looks forward to Apollo’s ongoing success.
Additional information regarding Apollo can be found on the Company’s website at http://www.apolloconsolidated.com.au/