The price of gold will “remain elevated” as governments pour cash into the post-pandemic economic recovery, the world’s biggest gold producer Newmont said this week.
If it glitters and it’s at the smaller end of the market, it probably involves Canaccord Genuity.
So is the case at Western Australian gold project owner OzAurum, which has tapped Canaccord’s brokers to help get it on to the ASX boards.
It is understood Canaccord is readying the company for a $10 million-odd initial public offering, which is slated to launch in the coming month or so.
OzAurum is expected to pitch its two projects to potential investors. Both sit near one of the richest gold veins in WA. There’s the Mulgabbie North project, not far from Saracen Mineral Holdings’ Carosue Dam gold mine, and the nearby Patricia Project.
OzAurum CEO Andrew Pumphrey is expected to lead the pitch. Pumphrey has had brokers all over him for years – he has held the tenements privately for the past 30 years and is finally taking them to market.
Pumphrey is understood to be the biggest shareholder, while the next biggest is non-executive director Martin Holland, co-founder and executive chairman of Cobre.