Mako Gold has been admitted to the official list of the Australian Securities Exchange with trading of its securities to commence today under the codes “MKG” and “MKGO”.
Mako Gold’s IPO was oversubscribed and raised $6 million, including a cornerstone investment of $2 million by Resolute Mining (ASX:RSG).
Resolute Mining is a successful ASX200 gold producer with mines in Australia and Africa.
Following the issue of 30 million shares under the IPO offer, there will be a total of 63,250,100 shares on issue, resulting in an undiluted market capitalisation of $12.7 million at the offer price of $0.20/share.
Mako Gold has secured drill rigs for both programs which are scheduled to arrive at the Napié project and at the Tangora project in the coming weeks.
“We are thrilled to have closed our IPO oversubscribed and achieved an ASX listing. The strong support from our shareholders is appreciated and we are eager to reward their enthusiasm," comments Mako Gold MD, Peter Ledwidge.
We can now focus 100% of our attention on the planned exploration programs, particularly the upcoming maiden drilling programs, in the hope of delivering positive news flow to our shareholders in the near future.”
Mako Gold will provide regular updates of the field programs as results come to hand.