DeSoto Resources Limited was established to discover gold and lithium in the Northern Territory. It is set to list on the Australian Securities Exchange (ASX).
DeSoto Resources Limited has 2 projects – Fenix Lithium Gold Project and Fenton Gold Project.
*Fenix Lithium Gold Project – Located within the Pine Creek Pegmatite Field, historic holes intersecting pegmatite and +800ppb Au soil samples
*Fenton Gold Project – Strong gold system with wide gold hits from limited drilling. 55m @ 0.88g/t Au from 418m Incl. 20m @ 1.74g/t Au from 423m.
DeSoto Resources Limited was looking to raise up to $10 million at $0.20 per share in its initial public offering (IPO). The Public Offer opens on 13 Oct 2022 and closes on 10 Nov 2022. The expected date for quotation on ASX is 16 Dec 2022.
Note: The dates shown on this page are indicative only and may change without notice.
IPO Summary
| ASX code | DES |
| Name | DeSoto Resources Limited |
| Website | https://orpheusminerals.com.au/ |
| Share Registry | Automic Pty Ltd |
| Underwriter | Not underwritten. PAC Partners Securities Pty Ltd (Lead Manager) |
| Opening Date for the Public Offer: | 13 October 2022 |
| Closing Date for the Public Offer: | 10 Nov 2022 |
| Expected date for New Shares to commence trading on ASX | 16 December 2022 01:30 PM AEDT |
| Funds to be raised under the Public Offer (before costs) | $10,000,000 |
| Offer price per share | $0.20 |
| Shares on issue at the Prospectus Date | 32,650,000 |
| Shares to be issued under the Public Offer | 50,000,000 |
| Total Shares (undiluted) | 88,950,000 |
| Escrow | 29,023,500 shares, 35,575,000 Options and 2,750,000 Performance
Rights (a period of 24 months from date of quotation) 4,925,000 shares (a period of 12 months from date of issue) |
Source: DeSoto Resources Limited prospectus, official website.