Aconcagua Resources Limited (ASX: ANU)

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ANU has announced the issue of 15m Shares $0.50 per share to raise up to A$7.5m in an IPO to List on ASX. MPS is Lead Manager and Underwriter to the Offer.

Aconcagua Resources Limited (ASX: ANU) (Iron)

IPO -

ANU has announced the issue of 15m Shares $0.50 per share to raise up to A$7.5m in an IPO to List on ASX.

MPS is Lead Manager and Underwriter to the Offer.

Key Points

  • Resource base of hemo-ilmenite comprising Iron (Fe), Titanium (Ti) and Vanadium (V)
  • Sustained global demand for Ferrous and non-Ferrous metals
  • Low risk: large acreage of resource
  • Favorable infrastructure and logistics
  • Low production costs
  • Experienced management and technical team

MPS expects ANU to quantify a sizeable resource over the short-term and to bring the resource to a JORC standard. MPS believes that the high grades found in the testing are a positive indication of the potential of this project. MPS believes a substantial resource will be defined in Ecuador with:

  • High grade Fe-Ti-V mineral content
  • Low production costs
  • Access to cheap energy (local diesel sells at approximately US$1 /gal)
  • Road and sea transport infrastructure are in place, with main oil export port, Esmeraldas, located between ANU’s concessions.

Summary of Total Offer

Unit Price: A$0.50
Total Units on Offer: 15 million
Raising: $A7,500,000

Head Broker:

Barry Dawes
bdawes@mpsecurities.com.au
+61 2 9222 9111

About this Capital Raising

  • IPO
  • July 17, 2007 17:00
  • A$ 7,000,000