METS

Orexplore closer to listing

Priority offer closes

Staff reporter
Orexplore closer to listing

The maximum was $2.5 million.

About 150 shareholders participated in the 25c per share offer, including Swick managing director Kent Swick, who subscribed for $300,000.

The proceeds of the offer are in addition to the $12 million seed funding payment made by Swick as part of the demerger.

Orexplore will start its listed life with a cash balance in excess of $14 million.

Orexplore's main focus is its disruptive GeoCore scanning technology and its visualisation and analysis software, Orexplore Insight.

Shareholders of Swick approved the demerger just before Christmas.

Orexplore expects to list on the ASX on around January 21.

Swick is being acquired by larger driller DDH1 for $115 million in shares, with a shareholder vote to be held next week.

Swick shares closed at 31.5c on Friday, valuing the company at $88.7 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.