KEY POINTS
- SensOre initiates ASX IPO funding round seeking A$7-$10 million
- Lead managed by Bell Potter looking to place 11.8 million shares at A$0.85 per share
- Funds will be used to scale SensOre's data platform and AI-exploration targeting technology
- Targets generated include a portfolio of base and precious metals projects in major mining areas
Exploration in 2022 will focus on base metal targets in the Madura province as well as gold projects in the Murchison and near Meekatharra, Leonora and Kalgoorlie
SensOre Ltd has launched its initial public offering (IPO) funding round seeking to raise A$10 million (minimum A$7 million with a capacity to take oversubscriptions to raise gross proceeds of A$12.5 million).
Bell Potter Securities Limited has been appointed Lead Manager.
Funds from the IPO will be used to scale SensOre's extensive data cube across the Australian continent, covering more than 2,400 layers of data drawn from vast geology, geophysics and geochemistry datasets.
The data cube and SensOre's predictive targeting technology DPT® (developed in conjunction with CSIRO) will be made available to the Company's current and prospective clients.
"We have made great progress in the last few years acquiring and making accessible large geoscience data sets. The next step is to expand from working with our current client base of early adopters to make these tools for discovery widely available across the industry to improve the likelihood of exploration success," said CEO Richard Taylor.
IPO proceeds will also be used to further exploration on SensOre's tenement assets at: Mt Magnet, north of Ramelius Resources' (ASX: RMS) Mount Magnet Gold Operations; Meekatharra, bordering Great Boulder Resources' (ASX: GBR) Mulga Bill project; and SensOre's Leonora projects, among others.
The current IPO timetable will see SensOre listed in late January 2022.
More information regarding the IPO is available here.
Media Enquiries
Richard Taylor
Chief Executive Officer
M +61 404 343 219
E richard.taylor@sensore.com.au
