Brisbane firm HopgoodGanim has advised gold exploration company Navaho Gold on its ASX listing and initial public offering (IPO) to raise $9 million.
According to HopgoodGanim partner Michele Muscillo, who led the team advising on the transaction, the funds raised will be used by Navaho Gold for exploration of its gold and gold-silver projects in both Queensland and Nevada in the USA.
"Nevada's mining tenure regime is substantially different to that of Queensland. Navaho Gold is focusing on its exploration activity over there, so as part of this transaction, we negotiated a number of agreements with parties in Nevada in relation to the properties that Navaho Gold has an interest in."
Prior to its IPO, Navaho Gold was a subsidiary of resource project investment company D'Aguilar Gold, a long-standing client of HopgoodGanim.
The IPO was fully underwritten by Bizzell Capital Partners.