Latest uranium ASX listing follows rapid capital raising
Posted: 8 March 2007
After closing its heavily oversubscribed $7,000,000 IPO in just over a week, South Australian uranium and base metal exploration company, Lincoln Minerals Limited, is now set to debut on the ASX tomorrow ( Friday, March 9 ).
Announcing its intention to list on March 9, the company’s Managing Director, Dr John Parker, said the speed with which the capital was raised in the IPO illustrated not only the current intense interest in the sector but, just as importantly, the nature and positioning of the company itself.
“We are confident about listing at this time and we are very confident about the future prospects for the company,” Dr Parker said.
“For valid reasons, uranium currently occupies centre stage in the minds of investors and, indeed, its exploration will account for some 50 per cent of the capital raised but Lincoln has access to a much wider portfolio of minerals that make it even more appealing.”
These included base metals (lead, zinc, copper, nickel, silver) as well as gold, iron ore and iron oxide-copper-gold-uranium exploration projects.
“We are a multi-commodity mining company that intends to take advantage of the global surge in demand and prices for the entire portfolio range.”
Lincoln’s tenements are located in the prolific Gawler Craton of South Australia’s Eyre Peninsula, a world class mineral belt that includes the world’s fourth largest remaining copper deposit and largest uranium deposit at Olympic Dam, major iron ore mines in the Middleback Ranges and significant lead-zinc-silver and gold deposits in the Menninnie Dam-Weednanna area north of Kimba.
Dr Parker, a geologist and geophysicist who for many years led the mapping branch of the South Australian Geological Survey, is recognized as one of the foremost experts on the geology and mineralisation of the Gawler Craton.
His work in the discovery and/or delineation of several important mineral deposits in the region have been highlights of an illustrious career in the mining industry.
Dr Parker said that the underlying potential for the continuing success of the company’s exploration activities would be greatly assisted by the proximity of its 23 leases to established infrastructure on the Eyre Peninsula, including rail and heavy haulage road networks, shipping ports, electricity and water services, hospitals and engineering service providers.
“Our full scale exploration program can start in the knowledge that essential infrastructure capabilities, always a major cost consideration, are already in place,” he said.
That and a management team with extensive expertise in and knowledge of the mining industry, particularly minerals exploration and discovery in the Gawler Craton, were key ingredients for the successful launch of the company on the ASX and the economic impact and benefits that it would help generate.
Posted by Richard Price, Editor, EnergyME.com
Information supplied by companies or PR agencies who are responsible for content.
Send press releases to richard@energyme.com
|
