ASX and MEDIA
RELEASE
17 OCTOBER 2007
Augur closes IPO oversubscribed – raises $5 million
Diversified minerals explorer Augur Resources Limited
(Augur) has closed its Initial Public Offer (IPO) oversubscribed, raising $5
million to develop its NSW-based suite of projects.
Through its Prospectus, Augur offered 25 million
shares at an issue price of $0.20 each. The Company anticipates listing on the
ASX in the week commencing 22 October 2007.
Augur Chairman Peter Bradfield, who has more than 40
years resource experience at Board and CEO level, said the Company had received
strong investor support for its Prospectus.
This included strong support from key local and
international institutional investors, including London-based RAB Capital.
Mr Bradfield said that Augur was now committed to a
drilling programme on its projects in the proven production region of the
Lachlan Ford belt of NSW, where it is targeting potential for copper, gold and
nickel.
“I’d like to welcome all investors to
Augur Resources and thank the market for supporting the development of what is
a promising project in New South
Wales,” Mr Bradfield said.
“We believe that investors have a great
opportunity in a region that has been comparatively underdeveloped using modern
mining techniques.”
“We have an aggressive exploration focus, and propose
to invest over 80% of raised proceeds in the ground providing continuous flow
for investors,” Mr Bradfield said.
Mr Bradfield said the immediate focus for the company
is the initiation of an RC and diamond drilling program on its primary Yeoval
copper / gold project, northwest of Orange.
Augur is also planning a drilling program at it
Collerina project, which has resource potential for lateritic nickel.
Carmichael Capital Markets Pty Limited acted as Lead
Manager to the IPO.
For further
information, please contact:
Joshua Rogers Warrick
Hazeldine
Managing Director Purple
Communications
Tel: +61 (0) 2 9267 8333 Tel:
+61 (0)8 9485 1254
Mob:
0417 944 616
Augur’s
projects
About Augur
Augur is a NSW-based resource development company,
with a focus on copper, gold and nickel projects within the Lachlan Ford Belt
in western NSW. The region is a known producing area, especially for copper, gold
and base metals and Augur is seeking to JORC define via an extensive drilling
program its key projects with the intention of them moving to the
pre-feasibility stage.
The Company has a highly experienced Board and
Management team, with includes extensive experience in NSW and porphyry
copper-gold exploration.
For more information, please visit www.augur.com.au
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