CGN Resources ready to test Webb potential after successful $10m IPO
CGN Resources (ASX: CGR) managing director Stan Wholley joins Small Caps to discuss the company’s successful $10 million initial public offer (IPO) and exploration plans for its large Webb iron oxide, copper-gold (IOCG) project in Western Australia’s highly prospective West Arunta region.
With an initial minimum raising target of $8 million at $0.20 a share, CGN was swamped by investors and eventually attracted $10 million in offers.
The company is now preparing to list on the ASX around the 12th October 2023 and looking to undertake a significant exploration campaign at Webb.
This includes a 1,200 metre diamond core drilling campaign at the Tantor and Surus targets ahead of expanded and more detailed exploration in the new year.
CGN holds an 86% interest in seven granted and one pending exploration licences across 948 square kilometres of tenure at Webb.
The company has already identified the significant copper potential of the IOCG target and opportunistically target magmatic nickel sulphides, rare earth elements and diamondiferous kimberlites within the Webb project tenements.
Article:
https://smallcaps.com.au/cgn-resources-ipo-advance-webb-project/
For more information on CGN Resources:
https://smallcaps.com.au/stocks/asx-cgr/
-----------------------
Small Caps is Australia's #1 site for market news & information on ASX listed small cap companies.
-----------------------
WEBSITE
https://smallcaps.com.au/
PODCAST
https://smallcaps.com.au/podcast/
SOCIAL MEDIA
Facebook: https://www.facebook.com/SmallCapsASX
Twitter: https://twitter.com/SmallCapsASX
LinkedIn: https://www.linkedin.com/company/small-caps/
NEWSLETTER
https://smallcaps.com.au/subscribe/
-
19:05
Small Caps
8 months agoPharmAust's new CEO on his journey in biotech and vision for the company
37 -
LIVE
The Quartering
1 hour agoCount Dankula & Bearing On Trump, Nick Rekieta Arrest, & The Clownworld
2,494 watching -
DVR
Robert Gouveia
2 hours agoTrump Rally RATTLES Democrats; Obama Memo WRECKS Florida Case; Ohio Governor CAVES
1.95K11 -
LIVE
The Kirk Minihane Show
2 hours agoKMS Live - May 24, 2024
859 watching -
58:40
Tactical Advisor
1 hour agoNew Product Release! - Vault Room Live Stream
4.86K1 -
1:14:22
Graham Allen
3 hours agoThe Bronx is MAGA COUNTRY!!
31.7K48 -
1:15:40
LumpyPotatoX2
2 hours agoFortnite at Rumble HQ - #RumbleTakeover
1.95K3 -
LIVE
Wendy Bell Radio
6 hours agoAmerica's President
10,240 watching -
1:18:04
The Bitcoin Family
2 hours agoBITCOIN, BLOCKCHAIN AND LIFE AMA DIDI TAIHUTTU
3.06K2 -
7:27
America Uncovered
3 hours agoWhat Does Iran President Ebrahim Raisi Death Mean for America?
8.14K20