Argonaut served as Co-Manager on a $61.2 million capital raising transaction for Saracen Mineral Holdings Limited in 2014. The funds, which were issued through an Institutional Placement and Accelerated Entitlement Offer, were used in the acquisition of the Thunderbox and Bannockburn gold mines and operations from Norilsk Nickel. The capital raising was well supported by new and existing shareholders from domestic and international institutional investors resulting in a significantly oversubscribed Placement which was also used to continue current exploration projects, strengthen the financial balance sheet, as well as for general working capital.
Saracen Mineral Holdings Limited (ASX:SAR), founded in 1987, is an Australian mineral resource exploration company focused on discoveries in the Kalgoorlie region of Western Australia. Its main venture is the Thunderbox Project in the Agnew-Wiluna belt in the North Eastern Goldfields. They are also invested in technology innovation to improve resource exploration and mining operations for better returns. In 2021, Saracen Mineral Holdings merged with Northern Star Resources Limited (ASX:NST), an Australian development and gold producer, to create a world-class mining operation with Australian and North American projects.
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