Monger Gold IPO Update
Perth, May 24, 2021 AEST (ABN Newswire) - Torian Resources Limited (
ASX:TNR) is pleased to advise that Monger Gold Ltd (Monger Gold) has been granted conditional admission to the Official List of the ASX with respect to its initial public offering (Offer) made under the Company's prospectus dated 16 April 2021 (Prospectus).
Monger Gold is now progressing to satisfaction of the conditions precedent detailed by the ASX and aim to have the conditions satisfied as soon as possible.
The Company is informed that the Offer has been twice oversubscribed, with all future applications to be rejected.
In order to enable several investors to finalise their investment, Monger Gold has today updated on their website that they will be extending the Closing Date of the Offer under Prospectus to Friday, 28 May 2021.
Torian will hold ~10.71% interest in Monger Gold, plus a free carried 20% JV interest in the projects until BFS.
Further information in relation to the Offer can be found at the Monger Gold website:
http://mongergold.com.au/prospectus/
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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