Legacy Minerals plans to list on ASX with $7 million IPO

Legacy Minerals Holdings Ltd has appointed CLSA Australia and Saint Gabriel Corporate Advisory as lead managers for its upcoming Initial Public Offering (IPO) to raise up to $7 million. The company plans to list on the Australian Securities Exchange (ASX) in August 2021. With a strong cash position from an oversubscribed pre-IPO raise in March 2021, the company plans to drill its current high priority gold and copper exploration targets in the world-class Lachlan Fold Belt of NSW. “Best possible backing to undertake an IPO” CLSA is a leading capital markets and investment group in Asia, connecting global investors to insights, liquidity and capital to drive their investment strategies. Sydney-based Saint Gabriel is an independent corporate finance and advisory firm specialising in resources and technology, including capital raisings, IPOs, strategic partnerships, divestments and acquisitions. Legacy Minerals managing director Chris Byrnes said: “Combining the capabilities offered by both companies, CLSA and Saint Gabriel will provide us with the best possible backing to undertake our Initial Public Offering with both firms having significant experience in equity capital markets. “Post a successful IPO, Legacy Minerals looks forward to a long-term partnership with CLSA and Saint Gabriel to further advance and develop our gold and copper projects.” Exposure in world-class province Leveraged to increasing interest and price strength of gold and copper, the company’s five 100%-owned projects target porphyry, epithermal, Cobar-style, VHMS and low sulphide quartz vein mineralisation styles. The company’s projects provide significant exposure in a mineral province that hosts world-class, tier-one ore bodies including Cadia Valley copper/gold porphyry (Newcrest Mining Ltd - ASX:NCM, OTCMKTS:NCMGF, TSE:NCM, FRA:MNA); Cowal Gold epithermal (Evolution Mining Ltd - ASX:EVN, OTCMKTS:CAHPF) and CSA copper (Glencore PLC - LON:GLEN, JSE:GLN, OTCMKTS:GLCNF, FRA:8GC) mines. “Confident of strong investor support” Byrnes said: “With the sustained demand for gold and copper and the continued exploration and mining success within the Lachlan Fold Belt of NSW, we are confident that the company will receive strong support from investors. “Legacy Minerals' advanced projects provide immediate exposure to potential gold and copper discoveries and our robust pipeline of projects afford further growth for the company in the future.”