Dempsey Minerals targeting phosphate and mineral sands, admitted to the ASX

Dempsey Minerals has robo sand makingbeen admitted to the ASX, after a successful IPO offering 12.5 million shares at $0.20 to raise up to $2.5 million. Dempsey will hit the ASX boards at 12:30pm EST on Wednesday 8 June, with just over 14 million shares on issue. The company is targeting phosphate and mineral sands projects in the Northern Perth Basin of Western Australia, and has entered into farm-in agreements to explore and earn an equity interest.

The agreements give Dempsey the option to explore and obtain a 75% interest in the Cooljarloo Heavy Minerals Sands Project, and up to a 75% interest in the Dandaragan Phosphate Project. Cooljarloo Mineral Sands Project Cooljarloo comprises exploration licence E70/3065 situated in the 150 kilometres north of Perth within an active minerals sands mining district. The project abuts Tiwest’s Cooljarloo mine and the Image Resources (ASX: IMA) Cooljarloo heavy mineral sands discoveries. Located only a short drive from Perth, the Cooljarloo Project is strategically located and readily accessible with established civil infrastructure...