Argonaut Securities leads $225m in gold sector fundraising

Argonaut Securities played a significant role in $225 million of gold-sector capital raising, including participation in Wiluna Mining’s $180 million float alongside Barrenjoey Markets and Ballard Mining’s $45 million placement with Canaccord Genuity.

Other notable mandates included Taylor Collison for Maronan Metals’ $20 million raise and Euroz Hartleys for Torque Metals’ $25 million placement. In international markets, Baird and Lake Street Capital Markets assisted Amaero International in raising US$20 million, earning US$1.4 million in underwriting commissions.

Despite the high volume of fundraising, market performance for several recent listings was poor. Of the ten stocks examined, eight were trading below their issue price, including Wiluna Mining, which saw shares plunge 22.3%.