Argonaut served as Lead Manager to successfully raise $19.5 million for Genesis Minerals Limited at an issue price of $0.042 per share by way of a placement and fully underwritten non-renounceable entitlement offer (“Equity Raising”), in 2020 to fund the acquisition of the Kookynie Gold Project, as well as for general working capital of the Greater Ulysses Project. In 2019, Argonaut has acted as Lead Manager in its well-supported placement of A$5 million to fund the resource definition and exploration drilling programs at Ulysses. An earlier transaction also included an oversubscribed placement of A$5 million to new and existing institutional and sophisticated investors in 2018.
Genesis Minerals Limited (ASX: GMD) is an Australian gold exploration and mine development company whose shareholders are members of the Australasian Institute of Mining and Metallurgy. Genesis is focused on long-life standalone gold mining and processing operations at the Ulysses Gold Project, located in the mineral-rich and highly prospective Eastern Goldfields region in Western Australia. Genesis is also in the Barimaia Gold Project in the Murchison district of Western Australia, which hosts large, low strip ratio or porphyry-hosted gold deposits.
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