Argonaut is pleased to announce the successful Initial Public Offering (‘IPO’) of copper/gold explorer Bryah Resources (‘Bryah’) on ASX. Acting as Advisor and Lead Manager Argonaut raised $5 million for Bryah to pursue its exciting exploration prospects in the Byrah Basin and Meekatharra regions of Western Australia.
Argonaut attracted a high quality mix of investors to support the IPO and created a well balanced and ‘tight’ register with the top 20 shareholders owning around 70% of Byrah post IPO.
Bryah’s IPO has been well received by the capital markets, with its share price trading up 25% on its first day of trading on ASX.
Bryah’s Managing Director, Neil Marston said:
“We are delighted to be listing on the ASX, and look forward to commencing our first drilling program and we are optimistic that an initial series of strategic drill targets will yield results quickly.
Recent ground mapping and geophysical studies have revealed untested zones of the Narracoota volcanics – some of which is under shallow cover on parts of our ground – so we are keen to mobilise the drilling teams to test these as soon as possible once we have the necessary permits.”
Argonaut is delighted to have supported Bryah during the IPO process and looks forward to Bryah continuing its exciting exploration activities to create value for shareholders.
Additional information regarding Bryah and its IPO can be found on the company’s website at www.bryah.com.au.