Highlights
- Golden Horse Minerals commenced trading on the ASX today under the ticker code GHM
- Australian IPO raised gross proceeds of the maximum amount of A$18 million to support exploration in the Southern Cross Greenstone Belt, a premier gold-producing region in Australia
- Exploration programs planned for 2025 including mineral resource definition drilling, brownfields exploration, and greenfields exploration across the Southern Cross Project
- Golden Horse has assembled a highly experienced board and management team who are well qualified to exploit the potential of Golden Horse’s gold assets
- With shareholder approval, GHM will delist from the TSX Venture Exchange to minimise costs and streamline its corporate structure so it can focus on its Australian operations
- Canaccord Genuity (Australia) Limited and Euroz Hartleys Limited were Joint Lead managers to the public offer
Golden Horse Managing Director & CEO Nicholas Anderson said:
“The board of Golden Horse Minerals would like to take this opportunity to thank shareholders for their strong support during the Australian IPO. We are committed to working diligently towards development of our strategic position in the Southern Cross Greenstone Belt with the objective of delivering value to our shareholders.
“From today’s listing on the ASX, Golden Horse Minerals is now 100% focused on getting on the ground in the Southern Cross in an effort to unlock the immense potential of the region for additional resources as well as new discoveries.
“The company anticipates significant news flow as we advance our brownfields and greenfields exploration activities and mineral resource definition drilling and I look forward to keeping shareholders informed of our progress.”
Perth, Western Australia (16 December 2024) – Golden Horse Minerals Limited, (ASX:GHM / TSX-V: GHML) (“Golden Horse” or the “Company”) is pleased to announce the Company has commenced trading on the Australian Securities Exchange (ASX) today, 16th December 2024.
This follows the completion of the Company’s Initial Public Offering (IPO), which raised gross proceeds of A$18 million at an issue price of A$0.25 per Chess Depositary Interest (“CDI’s”) with a priority allocation of up to A$4 million reserved for eligible Emerald Resources NL (ASX: EMR) shareholders.
Golden Horse Minerals’ comprehensive exploration activities include:
• Mineral Resource Definition Drilling at key prospects such as Hopes Hill, Hakes Find, and Pilot to establish a solid resource base.
• Brownfields Exploration at sites like Greenmount and Baby Queen, aimed at expanding known gold zones using existing infrastructure and historical mining data.
• Greenfields Exploration to systematically test new targets, ensuring continuous target generation and discovery.
A DISTRICT-SCALE OPPORTUNITY
Golden Horse Minerals’ flagship Southern Cross Project spans over 130 kilometres of the Southern Cross Greenstone Belt, a region known for hosting world-class, 1 + million-ounce gold deposits. This extensive tenement package positions the company as a major player in the district, offering both advanced and untapped greenfields opportunities.
USE OF FUNDS
The $18 million raised via IPO will be allocated as follows:
Amount ($M) | Activity |
A$11.4 | District-scale gold & lithium exploration at the Southern Cross Project |
A$0.6 | Exploration at the Redbank Copper Project |
A$2.8 | General working capital |
A$1.5 | Repayment of EMR loan |
A$1.7 | IPO and listing-related costs |
A HIGHLY EXPERIENCED BOARD
Golden Horse boasts a highly experienced board and management team, well-equipped to execute the Company’s ambitious exploration strategy. Chairman Graeme Sloan and Managing Director/CEO Nicholas Anderson lead a team with deep industry knowledge and a proven track record in mining and exploration. Their expertise will be instrumental in navigating the complexities of the Australian market and maximising the potential of the Company’s projects.
An overview of the Golden Horse board members is provided below:
Graeme Sloan, Chairman
Mr Sloan is a Mining Engineer with over 35 years of leadership experience, specialising in corporate affairs and operations across multiple commodities. He has a proven track record in building companies through growth and M&A and is committed to ESG practices. He currently serves as a Non-Executive Director at Kali Metals (ASX: KM1).
Nicholas Anderson, Managing Director/CEO
Mr Anderson is a Chemical Engineer with over 20 years in the resources sector, experienced in capital raising and mergers/acquisitions. He has previously served as CFO of Rivet Group and is currently on the board of Kin Mining (ASX: KIN), focusing on strategic growth.
Jim Harris, Non-Executive Director
Mr Harris has extensive experience in managing construction and engineering projects both in Australia and internationally. He has held executive roles at Swanline Developments and Alcoa, with expertise in project management. He holds qualifications in legal studies and public administration.
Brett Dunnachie, Non-Executive Director
Mr Dunnachie is a Chartered Accountant with over 20 years in corporate roles, currently serving as Chief Corporate Officer at Emerald (ASX: EMR), where he manages operations for the Okvau Gold Mine. His background includes corporate governance and regulatory compliance. Mr Dunnachie was nominated to the Board by Emerald.
For and on behalf of the Board
Nicholas Anderson
Managing Director & CEO
