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Aziana targets gold and bauxite in Madagascar, admitted to ASX
Edited by : AL CIRCLE
1 min read
Aziana (ASX: AZK), a Madagascar-focused gold and bauxite explorer, has been admitted to the ASX this week following a successful initial public offer of up to 50 million shares at A$0.25 to raise up to $12.5 million.
The company will have 93.6 million shares and 46.8 million options on issue when it hits the ASX boards at 1pm (AEDT) tomorrow, Wednesday 9.
Aziana has been actively exploring for gold and bauxite in Madagascar since 2006. The company owns 22 gold and bauxite exploration permits covering 950 square kilometres.
It is the 99% beneficial owner of the Manantenina Bauxite prospect in southern Madagascar where exploration to date has shown significant potential for a large tonnage, high grade, bauxite/gibbsite development.
Prior to its IPO, Aziana has been funded by $14.87 million of private equity and borrowings. To be able to advance its projects towards production, Aziana requires additional funding.
The funds raised by the IPO will be used to continue exploration and development, including drilling and resource estimation, of Aziana’s gold and bauxite projects.
The company will have 93.6 million shares and 46.8 million options on issue when it hits the ASX boards at 1pm (AEDT) tomorrow, Wednesday 9.
Aziana has been actively exploring for gold and bauxite in Madagascar since 2006. The company owns 22 gold and bauxite exploration permits covering 950 square kilometres.
It is the 99% beneficial owner of the Manantenina Bauxite prospect in southern Madagascar where exploration to date has shown significant potential for a large tonnage, high grade, bauxite/gibbsite development.
Prior to its IPO, Aziana has been funded by $14.87 million of private equity and borrowings. To be able to advance its projects towards production, Aziana requires additional funding.
The funds raised by the IPO will be used to continue exploration and development, including drilling and resource estimation, of Aziana’s gold and bauxite projects.
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