Clancy Exploration Ltd (ASX: CLY)

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For the issue of up to 25,000,000 shares at an issue price of twenty cents each to raise a total of up to $5,000,000. Underwriter: Martin Place Securities

Clancy Exploration Ltd (ASX: CLY) (Copper, Gold)


Clancy Exploration Ltd’s portfolio of prospective exploration opportunities has exposure to copper, gold, nickel and base metals.

Lachlan Fold Belt Copper-Gold Projects, NSW

  • 12 NSW projects 100% owned by Clancy
  • Substantial portfolio of copper-gold porphyry Targets in the Lachland Fold Belt, NSW
  • Application of the Geoinformatics Process, in conjunction with Gold Fiels Australia Pty Ltd over the last three years to areas in the Lachlan Fold Belt, has generated a Target Bank of highly ranked Targets
  • Three joint ventures with Gold Fields in the Lachlan Fold Belt, managed by Clancy and under which Gold Fields may contribute up to $5m of expenditure in the ground over three years to earn an 80% interest

Mount Read Volcanic Belt Projects, Tasmania

  • Strategic alliance with Bass Metals Ltd
  • A portfolio of tenements consisting of 12 exploration licences in the Mount Read Volcanic Belt in Tasmania, jointly held with Bass Metals
  • Base metals Targets generated by application of the Geoinformatics Process in the Mount Read Volcanic Belt
  • Seven Tasmanian projects, 25% owned by Clancy, 75% owned by Bass Metals
  • Bass Metals committed to expending $1.2m in 2007 on Targets identified by the Geoinformatics Process
  • Clancy entitled to performance shares in Bass Metals based on exploration success

Summary of Total Offer

Unit Price: A$0.20
Total Units on Offer:  25,000,000
Raising: $A5,000,000

Head Broker:

Barry Dawes
+61 2 9222 9111

About this Capital Raising

  • IPO
  • June 27, 2007 17:00
  • A$ 5,000,000.