Elementos Ltd (ASX: ELT)

Course Image

Elementos is offering up to 33,000,000 fully paid ordinary Shares at $0.25 (25 cents) per Share to raise $8,250,0000 in an Initial Public Offering.   Martin Place Securities Pty Ltd is Sponsoring Broker and has Underwritten $6,250,000 of the IPO.

Elementos Ltd (ASX: ELT) (Copper, Gold)

IPO -

Elementos (ELT) has been established through the spin-out of primarily copper-gold assets of Orocobre Limited (ASX: ORE) 

  • The key project is the major copper gold molybdenum project in Argentina 
  • ELT will be targeting resources in established world-class and emerging mineral provinces, focusing on gold and base metals as a priority 
  • ELT will IPO with six projects in three mineral provinces in two countries, Argentina and Australia 
  • Argentina − Projects located in San Juan province which is now established as a world class minerals province.  The properties include:  Santo Domingo copper-gold porphyry and  Manantiales gold-silver epithermal vein 
  • The key Santo Domingo project – large ground position established – 215km2, targeting major copper-gold-molybdenum porphyry system with three major target zones identified.   
  • Manantiales – located directly north and adjoining Troy Resources’ Casposo gold project  
  • Manantiales has two main target areas with strongly anomalous geochemistry, Manantial – the strike extension of the Casposo main reserve and La Puerta – the strike extension of the TRY’s Julieta vein zone 
  • Australia – Project located around Mt Isa (Inlier minerals province) and Northern NSW
  • Mt Isa prospect comprises the Millenium cobalt project Mt
  • Northern NSW comprises prospective emerging minerals province with gold and polymetallic mineralisation targets 
  • IPO targeting raising $6.25M – $8.25M to fund exploration over the next 2 years 

Summary of Total Offer

Unit Price: A$0.20
Total Units on Offer: 1,250,000
Raising: $A6,250,000

Head Broker:

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

About this Capital Raising

  • IPO
  • November 6, 2009 17:00
  • A6,250,000