New IPO - Star Minerals Limited

Afternoon IPOWatchers!

An exciting new IPO has just been lodged with the ASX.

Star Minerals Limited is a mineral exploration company established for the purpose of exploring for and developing high grade gold and base metals located at their Tumblegum South Project and West Bryah Project (the Projects), each located in central Western Australia.

The Company’s initial focus will be on the rapid advancement of the exploration and development of the Tumblegum South Gold Project. The Tumblegum South deposit has a granted Mining Lease (ML 51/888) and an existing Inferred Resource (JORC 2012 compliant) of 600,000 tonnes at 2.2g/t Au, equating to 42,500 oz. The project is located ~40km south of Meekatharra, in an area well served by mining infrastructure and support with multiple options for toll treatment.

The West Bryah Project is 349km2 package of tenements prospective for gold, copper, and other base metals in the West Bryah with significant soil anomalies and promising drilling results to follow up. The West Bryah tenements represent a further opportunity to explore for gold and base metal deposits in an under-explored package of tenements with only a sporadic exploration history and very little activity using modern exploration techniques.

The Star Minerals Limited IPO will open on Monday the 9th of August next week, and will close on the 3rd of September. Star Minerals are looking to raise $5,000,000 at an issue price of $0.20, with the shares expected to commence trading on the ASX on the 16th of September.

Star Minerals are looking to raise $5,000,000 as an issue price of $0.20.

The prospectus can be found by clicking the link through the IPOWatch front page, with applications to open soon.

Stay tuned for more updates next week!