Greatland Gold targets $33M in ASX dual listing push

Greatland Gold (LON: GGP) has launched its long-anticipated initial public offering, targeting up to A$50 million ($33m) as part of a dual listing on the Australian Securities Exchange and the London Stock Exchange’s AIM market.The Western Australian gold and copper miner, backed by Newmont Corporation (NYSE: NEM) and Andrew Forrest’s Wyloo Metals, aims to broaden its investor base and accelerate development in the Paterson province. Bank of America, Barrenjoey and Canaccord Genuity are managing the IPO.Over 66.7 million shares will be offered, with proceeds earmarked for working capital across Greatland’s flagship assets, which include Telfer, Havieron and nearby tenements acquired from Newmont last year. These assets are central to the company’s strategy to establish a large-scale mining and processing hub in the mineral-rich region.Newmont, Greatland’s largest shareholder with a 20.4% stake, is reportedly considering a partial sell-down. It remains unclear whether it will use the IPO to divest or whether Wyloo, which holds a 8.6% interest through a A$120 million investment in 2022, will exercise its first right of refusal or increase its position. Wyloo also holds the option to acquire half of Newmont’s stake. As part of a broader corporate restructure announced in April, Greatland Gold will become a subsidiary of a newly formed Australian parent company, Greatland Resources, which is scheduled to list on the ASX on June 24.Greatland Gold is currently valued at £1.8 billion ($2.4 billion) on the London Stock Exchange.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com