News

Gold and copper explorer TechGen ready for IPO following capital raise

March 24, 2021

Gold and copper explorer TechGen ready for IPO following capital raise

Junior gold and copper explorer TechGen is eyeing an early-April listing on the ASX after successfully raising $6 million through a heavily oversubscribed initial public offering (IPO). 

Junior gold and copper explorer TechGen is eyeing an early-April listing on the ASX after successfully raising $6 million through a heavily oversubscribed initial public offering (IPO). 

Under the terms of the IPO offer, TechGen sought to raise between $5 million and $6 million (before costs) through the issue of 25,000,000 – 30,000,000 shares at a price of 20 cents each. Vert Capital and Novus Capital acted as co-lead managers for the raising.

With the money now in the bank, TechGen Managing Director Ashley Hood said he’s confident the business is in a strong position from which to carry out its strategy.

 

“The money we’ve raised into the IPO allows us to launch a targeted program of short- and medium-term exploration programs with immediate follow programs already planned and budgeted based on positive early exploration results”.  

 

The company owns twelve exploration licenses comprising of seven projects with a combined total land area of almost 1,000km2 in Western Australia (regarded as the top jurisdiction in the world for mining investment).

The Company’s seven projects are strategically distributed across three geologically distinct regions – the Yilgarn Craton, Paterson Orogen, and Ashburton Basin – which are either proven world class provinces for these metals, or are considered highly-prospective and under-explored. 

The spread of projects across these three geological regions provides TechGen with geographical and operational diversification. In addition, the Company’s Managing Director and Technical Director are both project vendors and substantial holders, driven to actively manage projects and deliver value to shareholders. 

Join TechGen Metal’s Managing Director Ashley Hood on Tuesday 30 March for a live online investor briefing where he will discuss the company’s plans and an overview of their exploration projects. Click here to book your spot.

 

Gold sitting pretty 

TechGen’s IPO comes during a period of strength for gold miners – last week, 55.8% of ASX-listed gold miners saw their share prices gain.

A further 14.6% held flat, meaning less than a third saw dips in their prices.

These gains follow increasing support for the gold price, which last week was hovering between USD $1,700 and USD $1,750 per ounce.

Although increased central bank policy support (and record-breaking fiscal stimulus measures in the US) are tipped to weigh on gold prices in the short term, the longer term view is for upward momentum.

Barclay Pearce head of trading Trent Primmer even told Stockhead prices could potentially even break back out over USD $2,000 per ounce again, adding that investors “should always have some gold exposure in [their] portfolio, irrespective of short-term fluctuations”.

 

“You’ll never get a perfect entry price into something like gold,” he said.

Join the live investor briefing with Ashley Hood on Tuesday 30 March at 12pm AEDT. Click here to book your spot.


Past performance is not a reliable indicator of future performance. 

Reach Markets have been engaged by TechGen to assist with private investor management.

 

Sources:

 

 


General Advice Warning

Any advice provided by Reach Markets including on its website and by its representatives is general advice only and does not consider your objectives, financial situation or needs, and you should consider whether it is appropriate for you. This might mean that you need to seek personal advice from a representative authorised to provide personal advice. If you are thinking about acquiring a financial product, you should consider our Financial Services Guide (FSG) including the Privacy Statement and any relevant Product Disclosure Statement or Prospectus (if one is available) to understand the features, risks and returns associated with the investment.

Please click here to read our full warning.

Lombok Property Group

Ideal opportunity for investors in a growing property and tourism market

Leave a comment