Koonenberry Gold IPO to fund NSW gold project with geological similarity to Stawell

Koonenberry Gold Ltd is seeking to debut on the ASX this month after finalising a capital raise of up to $10 million to pursue the development of a greenfields gold project northeast of Broken Hill.

The company’s project has similar geology to the Stawell gold region¹, which is one of the two largest mine sites in Victoria having produced approximately 5 million ounces of gold.

“Gold nuggets have been found near the surface at the Koonenberry Gold project, with this site having the potential to be a major new gold district,” said Koonenberry Gold CEO Karen O’Neill.

The company has a strong and supportive register of institutions, ultra-high net worth family offices and experienced mining investors, most of whom are increasing their exposure via the IPO. There is a small proportion of the IPO which is being made available to retail investors via several platforms including the Company website.

“Koonenberry Gold has attracted a lot of attention from investors within Australia’s gold mining ecosystem, but we want to broaden our shareholder base with an allocation for retail investors” said Ms O’Neill.

The company has already invested more than $4 million to date on defining targets, collecting, and collating geochemistry and geophysical data.

“Koonenberry has eight near-drill ready exploration targets. The Lucky Sevens prospect is the most advanced and we are encouraged by visible gold in the reef at the surface and evidence of a large reef structure along strike and to depth,” said Ms O’Neill.

The Koonenberry project comprises 12 exploration licenses covering an area of 1,339 sq/km.

“This is a large project that has the potential to be a major new gold discovery. Koonenberry Gold will be the first company to undertake a systematic gold exploration programme on its tenements in a highly prospective emerging gold province,” said Ms O’Neill.

Koonenberry Gold plans to trade on the ASX under the ticker code (ASX:KNB).

Related

Successful infill results from soils progress report

December 21, 2021

Koonenberry Gold Ltd (ASX:KNB) is pleased to provide another progress report from its soil sampling campaign. Results from the remaining 219 out of the 441 soil samples taken, (previous results reported in ASX Announcement 23 November 2021), have been received.   

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