Flynn Gold Ltd has closed its initial public offer (IPO) after raising the maximum amount under the offer of $10 million.
Following its oversubscribed placement, Flynn will now progress its plans to list on ASX and is currently expecting to commence trading of its shares on or around May 10, 2021 under the code FG1.
Multiple exploration licences
Flynn is focused on gold exploration in two well-endowed Australian mineral provinces – north east Tasmania, which is an interpreted extension of the Victorian orogenic gold belt, and the Pilbara region of Western Australia, where gold exploration continues to increase due to recent discoveries.
In addition, the company holds two licences on the west coast of Tasmania prospective for zinc-silver, and gold licence applications in the Yilgarn region of WA.
North East Tasmania: under-explored Mathinna Beds Geology and mineralisation analogous to Victoria Goldfields
Flynn chairman Clive Duncan said: “Our projects in NE Tasmania, where the team has been working since 2016, have similar geology and geological history to that seen in the Victorian Goldfields, and we have had encouraging results already during our reconnaissance work.
“In the Pilbara, our portfolio of tenements and applications are proximal to one of the country’s largest gold discoveries in recent years, the Hemi deposit, which is creating a modern-day gold rush in the district.”