Argonaut acted as Sole Lead Manager to A$3,460,000 for Sumatra Copper & Gold PLC by way of placement of CHESS Depository Interests in 2017 from institutional and professional investors. The funds were used to assist in balancing their financial sheet in order to launch its Full Year Accounts in 2017 and resume from a suspension of trading.
Sumatra Copper & Gold PLC (ASX:SUM) is a mineral exploration company focused on resource development in Indonesia. The company mines gold and silver deposits and other precious metals from their Tandai Epithermal Gold-Silver Project in Bukit Tandai hillside, Bengkulu Province, and the Tembang Gold-Silver Project in North Musi Rawas Province of South Sumatra, Indonesia.
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