Argonaut as Joint Lead Manager has been successful in a heavily oversubscribed raising of A$74 million for Gold Road Resources Limited in 2016 to complete studies and prepare explorations at the Gruyere Gold Project in Goldfields, Australia. Past transactions included a A$39.3 million Placement in 2015 and a A$10 million Placement in the same year. All transactions were well supported by new and existing shareholders from domestic and international institutional investors resulting in significantly oversubscribed Placements which were also used to continue regional exploration activities at the Yamarna Terrane as well as for general working capital.

Gold Road Resources Limited (ASX:GOR) is a mid-tier Australian gold producer with a Tier 1 mine and exploration projects in the underexplored and highly prospective Yamarna Greenstone Belt in Western Australia’s north-eastern Goldfields. Its flagship project is the Gruyere deposit, first discovered in 2013 and is considered one of Australia’s largest and lowest-cost gold mining operations. Gold Road Resources Limited is also involved in explorations covering approximately 4,500 square kilometres in Yamarna and a joint venture with Cygnus Gold Limited at the Yandina JV in South West Yilgarn.