Argonaut acted as Joint Lead Manager to successfully raise $10 million for Apollo Consolidated Limited at an issue price of $0.21 per share by way of a placement (“Placement”) in 2020 to ramp up diamond drilling activities in the company’s flagship Lake Rebecca Gold Project, as well as to expand maiden mineral resources for other projects. An earlier transaction included a A$6.0 million Placement which was used to accelerate reverse circulation and diamond drilling at the Lake Rebecca Gold Project. Both Placements were underpinned by strong support from institutional and sophisticated investors, which resulted in the capital raising being significantly oversubscribed.
Apollo Consolidated Ltd (ASX:AOP) is a Perth-based gold exploration company focused on the Eastern Goldfield of Western Australia headed by its flagship gold project at Lake Rebecca. Situated in the Norseman-Wiluna Greenstone Belt, Lake Rebecca is the high-grade Jennifer Lode discovery site with an adjoining mineralised surface. The Company is also engaged in other exploration ventures at the greenfield gold projects in Yindi and Larkin and the Louisa nickel-copper sulphide project located in Kimberley. Apollo Consolidated Limited also continues to hold NSR royalty interest over Roxgold Inc’s Seguela Project in Central Côte d’Ivoire in West Africa, giving them continued exposure to explorations in this exciting region.
Argonaut | Perth
Level 30, Allendale Square, 77 St Georges Terrace Perth, WA, 6000 Australia
ABN 72 108 330 650
SFC CE No. AXO052