Argonaut raised multiple transactions for Metro Mining Limited, an Australian exploration and mining company based in Brisbane, Queensland. In 2018, acted as Lead Manager to successfully raise $17.5 million at $0.20 per share for Metro Mining Limited to strengthen the Company’s balance sheet and ensure strong working capital. In 2017, Argonaut acted as Lead Manager to A$38 million via a two tranche placement in the second quarter of 2017 as well as a A$52 million Placement in the first quarter.
In that same year, Argonaut, acting as financial advisor, has successfully advised on debt facilities totalling A$40 million for Metro Mining Limited to develop and construct the Bauxite Hills Mine in Cape York, Queensland. Earlier transactions also included Argonaut raising capital for Metro Mining Limited in 2016 and 2015 as well as a merger and acquisition in 2016. All transactions were well supported by new and existing shareholders from domestic and international institutional investors resulting in oversubscribed Placements which were also used as general working capital.
Metro Mining Limited (ASX:MMI) was established in 2014 and started its flagship venture which is the Bauxite Hills Mine project covers 1,900sq km in the Weipa Bauxite Region in Western Cape York. Metro Mining Limited also owns one of Australia’s largest thermal coal resources in Queensland’s Surat Basin. The Company is committed to the environment and all its projects are in accordance with the principles of Ecologically Sustainable Development (ESD).
Argonaut | Perth
Level 30, Allendale Square, 77 St Georges Terrace Perth, WA, 6000 Australia
ABN 72 108 330 650
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Suite 701, Level 7, Henley Building, 5 Queen's Road Central,
SFC CE No. AXO052