Argonaut acted as Financial Advisor to Ferrier Hodgson for the $110 million DOCA Proposal of Resolute Mining Limited for Noble Mineral Resources Limited in 2013. Noble Mineral Resources Limited is an Australian gold exploration and development with projects in West Africa. The Deed of Company Arrangement (DOCA) proposal was for the complete ownership of Noble Mineral Resouces’ Bibiani Gold Project in Ghana, which was located 80km west of Kumasi in the Ashanti Region of Ghana. The DOCA stated that Noble Mineral Resources can retain their concessions from their other projects outside Bibiani. The proposal also included restructuring and recapitalisation of Noble Mineral Resources and settling old debts.
In 2013, Noble Mineral Resources Limited accepted the DOCA Proposal of Resolute Mining Limited for complete ownership of the Bibiani Project which hosts mesothermal gold deposits similar to resources produced in the Obuasi Gold Mine, an open-pit underground site and the 9th largest mine site in the world. In 2016, Noble Mineral Resources Limited renamed, NMG Corporation Limited. In 2018, AusGold Ghana Limited acquired 100% interest in NMG Corporation’s subsidiary, NMRGL and the entire Cape Three Points Licences. The company then changed its name to Acrow Formwork and Construction Services Limited.
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