Perth, Australia – 15 July 2024 | Piche Resources Limited (ASX: PR2) ("Piche" or the "Company"), a mineral exploration company focused on uranium and gold in Western Australia (WA) and Argentina, is pleased to announce its listing on the Australian Securities Exchange (ASX).
Shares in Piche commence trading on 15 July 2024 at 10:00 am AWST (Perth) time, under the ticker code PR2.
Key Highlights:
- ASX Listing: Piche Resources shares commence trading on the ASX at 10:00 am AWST on Monday, 15 July 2024.
- Successful IPO: The Company successfully raised $10.0 million (before costs) through its Initial Public Offering (IPO) at an issue price of A$0.20 per share. The IPO attracted a strong register of international and Australian funds, as well as high net worth and retail investors.
- Funding Allocation: The capital raised will be used to advance drill-ready tier 1 exploration targets in Australia and Argentina and for working capital. Pre-IPO funds have already been applied to progress land tenure, community engagement, land access agreements, and preparation for imminent drilling campaigns at Sierra Cuadrada and Ashburton projects (uranium) and Cerro Chacon (gold).
Euroz Hartleys acted as Lead Manager to the IPO and introduced investor participation from a number of international & Australian funds combined with high net worth, retail investors and Piche directors and management.
Funds raised will be used to advance the Company’s drill ready exploration targets, including the Australian Ashburton project, the two Argentina projects Sierra Cuadrada & Cerro Chacon and working capital requirements. Importantly, the majority of funds raised will be allocated to exploration of the key uranium and gold projects.
Project Portfolio:
- Western Australia (Ashburton Project): Piche’s immediate focus will be on the Ashburton Project, where historical drilling in the 1980s delivered high-grade uranium results from the Angelo River Prospect. The Company aims to replicate these results to support a JORC Resource estimate at Angelo River.
- Argentina (Sierra Cuadrada and Cerro Chacon): The projects in Argentina include the Sierra Cuadrada and Cerro Chacon sites, where the Company plans to initiate drilling activities to explore and expand these promising targets.
Future Outlook: Piche Resources aims to build a significant mining group with separate uranium, gold, and base metal companies under its banner, leveraging the improving commodity market to maximize shareholder value.
John (Gus) Simpson
Executive Chairman
Piche Resources Limited
P: +61 (0) 414 384 220
E: info@piche.com.au
For more information, visit Piche Resources.
About us:
About Piche Resources Ltd:
Piche Resources Limited (ASX:PR2) is a junior exploration company focussed on exploring for uranium, precious metals and other critical metals mineralisation in Western Australia and Argentina.
The Group's Australian assets comprise seven granted exploration licences in Western Australia, covering four projects Ashburton, Gascoyne-Minindi, Abydos and Beasley Creek.
Piche's principal Argentinian assets cover two projects Sierra Cuadrada and Cerro Chacon currently comprising 10 recently granted mining concessions and 18 applications for mining concessions.
The Group's strategy has been to build a portfolio of potentially large-scale, high value projects and then fast track exploration and development. Its short term strategy is to complete three significant exploration and drilling campaigns on the Ashburton uranium project in Western Australia, and at Sierra Cuadrada uranium and Cerro Chacon gold projects in Argentina.
Contact details:
Jane Morgan
Jane Morgan Management
Investor Relations
jm@janemorganmanagement.com.au