Yandal Resources Limited (ASX:YRL) plans to list on the ASX and managing director Lorry Hughes will outline the company’s plans for its WA gold projects during the Proactive CEO Session in Melbourne on Tuesday, November 20.
The company plans to raise $5 million in an IPO at 20 cents per share and this will support exploration at its suite of projects in multi-million-ounce greenstone belts.
It hopes that the IPO will be completed before Christmas.
Within Yandal Greenstone Belt
Yandal’s projects are along strike or adjacent to known gold deposits.
Three projects - Ironstone Well, Barwidgee and Mt McClure – are within the Yandal Greenstone Belt, which continues to host new large-scale gold discoveries.
A fourth, Gordons, is 16-kilometres north of Northern Star Resources Ltd’s (ASX:NST) large Kanowna Belle gold mine in the prospective Kalgoorlie region.
Ironstone Well and Barwidgee are southeast of Wiluna and south of another major Northern Star operation, Jundee, which hosts more than 10 million ounces.
Yandal has 55-kilometres strike of contiguous mining tenements over prospective Yandal Greenstone Belt rocks, in which more than 20 million ounces have been defined to date.
Near Orelia deposit
At Mt McClure, Yandal holds prospective mining tenements containing 20-kilometres strike of shear and contact related mineralised trends.
This project is 1-kilometre south of Echo Resources Limited’s (ASX:EAR) 1-2 million ounce Orelia gold deposit, and 10-28 kilometres from the Bronzewing mill.
The Gordons tenements directly surround the operating Gordon-Sirdar underground gold mine and are along strike from the historic Mulgarrie Gold Mine.
Market cap of about $10.7 million anticipated
Yandal expects to have a market cap on listing of approximately $10.7 million
Its initial goal is to rapidly commercialise deposits within economic haulage distance of a number of third-party processing plants.
Register for the CEO Session today to find out more.