Argonaut

Brightstar Resources raises A$24M to fund a fast-tracked drill out of its recently-acquired Sandstone Project and for general exploration and development activities on Brightstar’s portfolio. Argonaut acted as Joint Lead Manager to the Two-Tranche Placement of Brightstar Resources Limited (ASX: BTR). The Placement follows (1) entry into a Scheme Implementation Deed with Alto Metals Limited (ASX: AME), pursuant to which Brightstar proposed to acquire 100% of the shares in Alto; and (2) Brightstar agreeing to acquire 100% of the gold mineral rights in the Montague East Gold Project from Gateway Mining Limited (ASX: GML). The above transactions add significant mineral endowment into Brightstar’s portfolio. Importantly, they add a third development hub to Brightstar that delivers the critical mass of gold resources that underpin a fast-tracked exploration and development phase of work to move the Sandstone hub towards monetisation. The Placement received strong support from a range of new and existing institutional investors, including a number of specialist gold and natural resources funds.   Argonaut is delighted to have worked with Alex Rovira and the entire Brightstar team and looks forward to Brightstar’s ongoing success.

That's a wrap on FY24! We would like to thank our clients for their ongoing trust and support. Here are some of the deals we've been working on.

Congratulations to BCI Minerals (BCI) for announcing that its wholly-owned subsidiary Iron Valley Pty Ltd has entered into a binding agreement to sell its Iron Valley iron ore assets to Polaris Metals Pty Ltd, a wholly-owned subsidiary of Mineral Resources Limited for a total consideration of up to $72.6M. Argonaut PCF is pleased to have acted as financial advisor to BCI.

Argonaut are hiring. We are seeking a Dealers Assistant to join our stockbroking team and work with the best in the industry. If you are an experienced administrator with a passion for the stockbroking industry, apply below.

Patriot Battery Metals raises C$75M to advance exploration programs at its Corvette Lithium Project. Argonaut acted as Joint Lead Manager and Joint Bookrunner to the Charity Flow-Through Offer of Patriot Battery Metals Inc. (ASX: PMT) (TSX: PMET). Patriot is now positioned to continue its exploration and study work at Corvette, aimed at further growing the Corvette Mineral Resource and testing a number of high priority targets within the Company’s broader landholding. The Charity Flow-Through Offer had strong support from institutional and sophisticated investors.   Argonaut is delighted to have worked with Ken Brinsden, Blair Way, Natacha Garoute, LLB, CPA, Bradley Seward, Olivier Caza-Lapointe and the entire Patriot team and looks forward to the Company’s ongoing success.   Additional information regarding Patriot Battery Metals can be found on the Company’s website at https://lnkd.in/ghYq-HKW

Congratulations to Alex Passmore, Rick Crabb, Alexandra Gelevitis and the broader Ora Gold Limited Team on entering into a Strategic Alliance with Westgold Resources Limited to advance the development of its Crown Prince deposit, together with undertaking a Strategic Placement of $6.0M to Westgold at $0.045 per share (a 7% premium to Ora’s 5-day VWAP). As part of the Strategic Alliance, Ora and Westgold will separately agree the terms of an ore purchase agreement for Ora’s Crown Prince deposit. Ora’s Crown Prince deposit hosts a shovel-ready, shallow, high-grade Mineral Resource of 240koz grading at 4.1g/t Au located 33km north-west of Westgold’s Bluebird processing facility and lies on a granted Mining Lease with a Native Title Agreement in place. For more details, refer to the ASX announcement: https://lnkd.in/gGMciWmm Argonaut PCF acted as financial advisor to Ora Gold.

AIC Mines Limited raises A$57.2M to commence development of the Jericho Copper Mine via an underground link drive directly from the Eloise decline. Argonaut acted as Joint Lead Manager and Joint Bookrunner to the Placement of AIC Mines Limited (ASX: A1M). The link drive is expected to be completed over 24 months and to reach first development ore in June 2026. The link drive will allow for rapid development of any future discoveries along 3.0km of prospective strike. The Placement had strong support from institutional and sophisticated investors.   Argonaut is delighted to have worked with Aaron Colleran, Josef El-Raghy, Michael Frame and the entire AIC Mines team and looks forward to the Company’s ongoing success.   Additional information regarding AIC Mines can be found on the Company’s website at https://lnkd.in/gnJwEk6r

A$62M merger between Linden Gold and Brightstar Resources. Argonaut acted as Financial Advisor to Linden Gold Alliance Limited on its A$62M merger with Brightstar Resources Limited. The merger will create a growing West Australian gold producer with two mining hubs in the world-class districts of Laverton and Menzies, a 1.4Moz gold endowment and existing infrastructure in the region. The team at Argonaut is delighted to have supported Linden Gold on this transaction and commends Andrew Rich, Ashley Fraser and Samuel Main on the successful execution!

De Grey Mining Ltd raises A$600 million to fully fund the equity component of the Hemi project financing, representing a material de-risking milestone for Hemi project development. Argonaut acted as Joint Lead Manager, Joint Bookrunner and Joint Underwriter to the underwritten A$600 million equity raising for De Grey Mining Limited (ASX: DEG). The institutional bookbuild saw significant demand from leading global investor groups both domestically and offshore, with strong support from existing shareholders. The Placement will provide the Company with significant balance sheet strength and flexibility to progress activities to support the Project execution schedule. Funds will be used to advance major project lead items, continue exploration drilling across the Greater Hemi and regional areas and fund working capital.   Argonaut has now been involved with raising De Grey Mining Ltd A$1.3 billion. We started our involvement in March 2020 when the Hemi discovery was in its infancy. Argonaut is delighted to have supported De Grey as it builds a genuine Tier 1 gold mine. We look forward to De Grey’s ongoing success.   Additional information regarding De Grey can be found on the Company’s website at https://lnkd.in/g78ZebfN

NexGen Energy Ltd. raises A$250M for general corporate purposes including exploration and development activities. Argonaut acted as Co-Manager to the Placement of NexGen Energy Limited (TSX: NXE, NYSE: NXE, ASX: NXG). Proceeds from the Placement will be used for general corporate purposes and to continue the development and further exploration of its mineral properties including its highly prospective Rook I Uranium Project. The Placement was strongly supported by a number of new Australian institutional investors as well as existing shareholders. Argonaut is delighted to support NexGen Energy and looks forward to the Company’s ongoing success.   Additional information regarding NexGen Energy can be found on the Company’s website at https://nexgenenergy.ca/