Yandal Resources’ IPO hopes
GOLD explorer Yandal Resources hopes to be listed on the ASX by December this year after launching a $5 million initial public offering (IPO).
With a suite of high-quality gold projects in the Yandal greenstone belt in WA, the miner hoped to raise funds to retest and extend upon historic exploration work.
Yandal Resources managing director Lorry Hughes said the company had received a “fantastic” response from investors to date.
“We expect to have a very big first half of the year next year where we will be looking to conduct major drill programs on our projects,” Mr Hughes told The Australian Mining Review.
Among the company’s four projects included Ironstone Well and Barwidgee gold projects, about 85km south of the Northern Star owned Jundee mine.
It’s third project, Mt McClure, contained 20km strike of shear related mineralised trends about 1km south of Echo Resources’ Orelia gold deposit, and its fourth project, Gordons Gold, was 16km north of Northern Star’s Kanowna Belle gold mine.
“Our strategy is twofold – firstly we have some fantastic greenfields targets within our tenements, which are underexplored and we want to make a new discovery,” Mr Hughes said.
“Secondly, we want to go back to known gold deposits and look to retest them because we know we are going to have the best success there.
“The potential of our projects has attracted interest from strategic investors and this is due to the presence of major gold bearing structures within our project.”
Yandal’s initial goal would be to fast-track mining, and haul ore to third-party processing plants. WA
Yandal Resources Flinders Park South outcrop. Image:YandalResources.