A recent IPO has raised $6 million for Dundas Minerals to enter into its next phase of exploration for nickel, copper and gold in southern Western Australia.
Western Australian exploration company Dundas Minerals has made its debut on the Australian Stock Exchange, with accounting and financial services firm Moore among its pre-listing advisors. Dundas’s operations focus on nickel, copper and gold in an underexplored region of Western Australia’s Great Southern Coast. The oversubscribed initial public offering (IPO) has raised $6 million to further advance the company’s efforts.
“Today marks the start of what will be an exciting exploration journey for our company,” said managing director Shane Volk. “Technical director Tim Hronsky has led the way in securing Dundas’s large tenement position in the southern Albany-Fraser Orogen, in an area remarkably devoid of exploration activity since 2012, the year that Sirius Resources discovered the rich Nova nickel deposit a mere 120 kilometers away.”
In addition to Volk and Hronsky, who together with share a background at Placer Dome, the Dundas senior team further includes exploration manager Mike Northcott and independent non-executive chairman Mark Chadwick, a chartered accountant with over two and a half decades of experience in corporate advisory and management – including as a partner at both and FTI Consulting and Ferrier Hodgson, since acquired by KPMG.
The company was supported in its successful IPO by Moore, alongside Perth-based commercial lawyers Steinepreis Paganin and lead manager Ventnor Securities, a local corporate finance specialist. As well as audit related services and due diligence reporting, Moore provided an Independent Accountants Report for the prospectus, with the assignment led by Moore partners Neil Pace and Shaun Williams.
“We are delighted for Dundas Minerals, and for being able to be part of their journey in listing today”, said Moore Australia chairman and WA managing partner David Tomasi. “The initial public offering provides the ideal platform to advance their exploration strategies in the highly prospective area of Western Australia’s southern Albany-Fraser Orogen, an area rich in nickel, copper and gold assets.”
As part of the global Moore network, Moore Australia comprises of five independent local firms with a footprint of 14 offices Australia-wide and national headcount of over 450 professionals, together generating revenues in the region of $80 million. Other recently-assisted listings include DUG Technology, Peregrine Gold, Singular Health, and Smart Auto Australia, with another six in the pipeline said to be imminent.