Bryah Commences $6m IPO to List on the ASX

A new Perth-based gold and copper focused exploration company has announced plans to raise up to $6 million by way of an initial public offering and list on the ASX.

KEY TAKEAWAYS:

• Bryah Resources will enter the ASX with two copper-gold projects near Meekatharra, where exploration work is already under way.
•  The company is led by former Horseshoe metals executive, Neil Marston, and chaired by Todd River Resources, director Stuart Crow.
• Bryah is seeking a minimum of $5 million from investors through the issue of 25 million shares at 20 cents each, and is accepting a further $1 million in oversubscriptions.
• The offer closes next week, with Bryah hoping to list shortly after that.

“The company has already commenced exploration activities, including a high-resolution aeromagnetic survey over much of the company’s Bryah Basin project area, which was completed in early April,” Mr Crow said in Bryah’s prospectus.

“This aeromagnetic survey will provide additional funds to advance exploration on the company’s projects developed to commence following the successful listing of Bryah on the ASX.”

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