Argonaut acted as Financial Advisor to Calidus Resources Limited in 2021 concerning its $110 million debt financing and associated gold hedging facility with Macquarie Bank. Proceeds were used to develop the Calidus’ Warrawoona Gold Project in the East Pilbara district of Western Australia and execute the Power Purchase Agreement (PPA) with Zenith Energy Pty Limited. The decision for debt financing follows an extensive global tender and due diligence process.

Calidus Resources Limited (ASX:CAI) is a gold exploration and development company focused on improving mining operations and unlocking more resources and new discoveries at the Warrawoona Gold Project and the Blue Spec Gold Project, some of Australia’s highest margin and significantly underdeveloped mine sites producing highest-grade gold deposits from the Pilbara district of Western Australia.