Monger Gold IPO Closed
Perth, May 28, 2021 AEST (ABN Newswire) - Torian Resources Limited (
ASX:TNR) (BER:CXB) is pleased to advise that the initial public offer (Offer) of Monger Gold Ltd (Monger Gold) has successfully closed twice oversubscribed.
Monger Gold intends to only issue 25,000,000 shares to raise $5,000,000 pursuant to the Offer with the indicative market capitalisation at listing to be $5,600,000.
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.
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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