Argonaut acted as Lead Manager to successfully raise $3 million for St George Mining Limited (ASX: SGQ) (“St George” or “the Company”). Funds were raised from sophisticated and institutional investors by way of a $3 million placement at an issue price of $0.10 per share. The Placement supported by both new and existing shareholders.
Funds raised from the placement were used to strengthen St George’s balance sheet and expand exploration programs at St George’s high grade nickel-copper sulphide discovery at Mt Alexander.
The strong investor support of the placement highlights the rarity of projects like Mt Alexander and the potential of St George’s upcoming drill and exploration programs to deliver significant value.
Argonaut is delighted to have once again assisted St George and looks forward to providing ongoing support to the Company.
Additional information regarding St George can be found on the Company’s website at www.stgm.com.au