Argonaut acted as Joint Lead Manager to successfully raise $20.0 million Placement for Australian Mines Limited in 2017 for its Tier 1 Sconi Cobalt-Nickel-Scandium Project in Townsville, Queensland. The Offer was underpinned by strong support from international and domestic institutional and sophisticated investors resulting in an oversubscribed Placement which was also used to accelerate resource expansion drilling at Australian Mines Limited’s Flemington Project in New South Wales.

Australian Mines Limited (ASX:AUX) is an exploration company focused on sustainable means to harness and develop cobalt-scandium-nickel resources for battery and technology metals for high-growth Electric Vehicle and Energy Storage industries. Australian Mines Limited’s Sconi Cobalt-Nickel-Scandium Project hosts one of the very few large ore bodies of its type in Australia.