Yan­dal Re­sources’ IPO hopes

The Australian Mining Review - - NEWS: NEWS EXPLORERS ON THE MOVE - JES­SICA CUM­MINS

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.

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