Argonaut acted as Joint Lead Manager to successfully raise A$100 million Placement for Ausdrill Limited in 2017 to strengthen the company’s balance sheet and provide flexibility to capitalise on growth opportunities presented from a pipeline of projects from African businesses. The Placement was heavily oversubscribed, with significant demand generated from new major domestic and international institutional investors.

Ausdrill Limited (ASX:ASL) is a local exploration company founded in 1987 in Kalgoorlie, focused on drilling, production, blasting and geotechnical services across Australia. Ausdrill Limited is part of Perenti Global Limited (ASX: PRN), an ASX200 diversified global mining services group, involved in some of the world’s largest surface and underground mining projects. Ausdrill has a history of innovation and investment in designing, building and deploying rigs for specialised applications, especially for hard-to-access areas. They are experts in lake drilling and pioneers in high-reach drilling and drilling at height projects.