Argonaut Resources NL (ASX: ARE) has appointed Simon Mitchell as Managing Director of Argonaut’s uranium subsidiary, Orpheus Minerals Ltd.
Argonaut has acquired a substantial package of prospective uranium exploration licences in South Australia and the Northern Territory.
The company holds these assets via a 100% held, unlisted public company, Orpheus.
Argonaut plans to list Orpheus on the Australian Securities Exchange later this year.
Mr Mitchell’s expertise is very well suited to leading an ASX listed uranium exploration and development company.
He was General Manager of Business Development, responsible for mergers and acquisitions, corporate and project financing, and strategy of uranium developer and explorer, Toro Energy Ltd, from 2006 to 2013.
Mr Mitchell is currently Managing Director of Southern Gold Ltd and will depart from this role in late October 2021.
Initial Public Offering
• IPO preparations are proceeding.
• The Argonaut board is considering: ¬ an entitlement offer of Orpheus shares to Argonaut shareholders as part of the IPO process; and ¬ a potential in-specie distribution of Orpheus shares to Argonaut shareholders (subject to statutory escrow provisions).
Uranium Exploration Assets
• Argonaut, via Orpheus, has assembled a package of prospective, uranium exploration projects in South Australia and the Northern Territory.
• Orpheus has 100% ownership or a clear pathway to 100% ownership of all related mineral titles. ¬ Orpheus holds a 100% interest in three granted exploration licences and three exploration licence applications. Orpheus has executed option agreements to acquire 100% of one granted exploration licence and one exploration licence application.
For further information please visit: https://www.argonautresources.com