04
Jan
02:40
Magnetic spins out nickel, rare earth assets for IPO
Australian miner Magnetic Resources has decided to spin out its non-gold assets - predominantly the nickel and rare earth tenements held around the Julimar area of Western Australia - into a new listing, Aureole Resources (Aureole), Kallanish notes.
Aureole proposes to undertake an IPO to raise a minimum of AUD 5 million ($3.39m) and up to AUD 7m at an issue price of AUD 0.20 per share. The proposed IPO will include a priority offer to eligible Magnetic…
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