Monger Gold IPO Opens
Perth, April 27, 2021 AEST (ABN Newswire) - Torian Resources Ltd (
ASX:TNR) is pleased to advise that the Prospectus for Monger Gold Limited (Monger Gold) was lodged with ASIC on Friday, 16 April 2021. Applications under the general and priority offers are now open.
Monger Gold will acquire 80% of three distinct projects in the eastern goldfields of Western Australia, Mt Monger North, Mt Monger South, and Gibraltar South (with Torian retaining a 20% interest). All three projects are within 50km of major mining towns (Kalgoorlie and Coolgardie).
Mt Monger North and Mt Monger South cover a combined total area of 37.7km2 and are comprised of twenty-nine significant tenements. They sit 45km south east of Kalgoorlie in the world class gold region of Western Australia, adjacent to Silver Lake Resources' (ASX:SLR) tenure which hosts its flagship Mt Monger Mine (Daisy Complex).
Based on significant historical exploration at our Mt Monger North Project (including drilling results), Torian is excited about the prospect for the discovery of gold, nickel, and other base metals. Key targets have already been identified, with planning work already underway to commence a drilling campaign at the Mt Monger North Project.
Recent work at our Mt Monger South Project has also indicated that the area has significant prospectivity for gold and base metals, particularly along its major structure, the Goddard Shear. Here as well, planning work is already underway to commence a systematic exploration program.
As part of the Offer, the Monger Gold is making an offer of a minimum of 5,000,000 Shares to current shareholders of Torian (Priority Offer). To be eligible to participate in the Priority Offer, an applicant must be a resident of Australia, Canada, the United Kingdom or the United States (and in the case of Canada, the United Kingdom and the United States satisfy the requirements set out under the Important Information (Foreign Jurisdiction) section of this Prospectus) and be recorded as being the holder of a share in Torian as at 6 April 2021 (Eligible Torian Shareholder).
Eligible Torian Shareholders will be able to apply for at least a minimum allocation of shares being 10,000 or $2,000, under the Priority Offer up to an aggregate value of $1,000,000. In the event that Eligible Torian Shareholders subscribe in aggregate for Shares over a value of $1,000,000, the Directors will allocate Shares at their discretion, but only up to a value of $1,000,000.
In order to participate in the Priority Offer, shareholders should follow the instructions on the priority application form within the Prospectus prior to the Priority Offer closing date (currently 24 May 2021).
For further information on how to apply for Monger Gold shares, please see the Monger Gold Prospectus at:
- Automic Share Registry Website:
Priority Offer: https://investor.automic.com.au/#/ipo/mongergoldpriority
General Offer: https://investor.automic.com.au/#/ipo/mongergold
- Monger Gold website: http://mongergold.com.au/prospectus/
- Request a copy directly by contact the Company at info@torianresources.com.au or telephone +61 8 62 45 2490.
About Torian Resources Limited
Torian Resources Ltd (ASX:TNR) is a gold exploration and development company with an extensive and strategic land holding comprising eight projects and over 400km2 of tenure in the Goldfields Region of Western Australia.
Torian's flagship project, Zuleika, is located along the world-class Zuleika Shear. The Zuleika Shear is the fourth largest gold producing region in Australia and consistently produces some of the country's highest grade and lowest cost gold mines. Torian's Zuleika project lies north and partly along strike of several major gold deposits including Northern Star's (ASX:NST) 7.0Moz East Kundana Joint Venture and Evolutions (ASX:EVN) 1.8Moz Frogs Legs and White Foil deposits.
Torian's other projects include the strategically located Mt Stirling and Malcolm Projects in the Leonora region (near Red 5's King of the Hills Project), where it recently completed updated Mineral Resource Estimates and preliminary scoping studies, and a suite of other projects in the Kalgoorlie region including Credo Well JV Zuleika JV, Bonnie Vale, Gibraltar and Mount Monger/Wombola.
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