Piche Resources Limited (ASX: PR2) (“Piche” or the “Company”), a mineral exploration company focussed on uranium and gold in Western Australia (WA) and Argentina, is pleased to announce its upcoming listing on the Australian Securities Exchange (ASX) at 10:00am Perth AWST time on Monday 15 July 2024 under the ticker code PR2.
HIGHLIGHTS
Piche Resources Limited shares to commence trading on the ASX today (Monday 15 July 2024) at 10:00am AWST (ASX: PR2)The IPO raised a total of $10.0 million (before costs) at A$0.20 per share with an excellent register of international & Australian funds, and high net worth and retail investorsCapital raised will be used to advance drill ready tier 1 exploration targets in Australia and Argentina, and working capitalPre-IPO funds have been applied to progress land tenure, community engagement, land access agreements and prepare for the imminent drilling campaign at Sierra Cuadrada and Ashburton projects (uranium) and Cerro Chacon (gold)
Euroz Hartleys acted as Lead Manager to the IPO and introduced investor participation from a number of international & Australian funds combined with high net worth, retail investors and Piche directors and management.
Funds raised will be used to advance the Company’s drill ready exploration targets, including the Australian Ashburton project, the two Argentina projects Sierra Cuadrada & Cerro Chacon and working capital requirements. Importantly, the majority of funds raised will be allocated to exploration of the key uranium and gold projects.
Project Portfolio – Western Australia and Argentina
KEY FOCUS
With the ASX IPO now completed, Piche intends to accelerate exploration activities on three targets at the Ashburton Project in Western Australia, and at Sierra Cuadrada and Cerro Chacon in Argentina.
Piche’s immediate attention will be at the Ashburton Project in WA, where previous drilling in the 1980’S delivered high grade uranium from the Angelo River Prospect. Piche will be seeking to replicate historical drilling results to assist in driving a JORC Resource estimate at Angelo River.
Longer term, Piche aims to build a significant mining group with separate uranium, gold, and base metal companies under its banner, capitalising on an improving commodity market.
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