Argonaut acted as Financial Adviser and Joint Lead Manager for Demetallica Limited (ASX: DRM) in relation its ASX Listing and Initial Public Offering which raised $15 million.

Demetallica was formed via the Demerger of Minotaur’s non-Kaolin assets concurrent with Andromeda’s recommended takeover of Minotaur and the consolidation of existing base metal joint venture interests with OZ Minerals and Sandfire in the Cloncurry region of Queensland.

Proceeds from the IPO were utilised towards joint venture acquisition payments and exploration programs across the company’s exciting portfolio of projects.

Argonaut is pleased to assist Demetallica completed a highly successful transaction and looks forward to the Company’s ongoing success.