Winchester resources is seeking to raise $2 million through the issue of 10 million shares at 20 cents each. The offer opened on 7 October and is expected to close on 6 November.
The company has entered into an agreement to acquire the Ora Banda Project near Kalgoorlie. They are hoping to
“define mineralization on the Tenements and identify, review and secure other potential mineral resource projects”
From what I understand their exploration efforts will be directed towards finding gold and nickel. It should be noted that this is a speculative proposition as the future value of any investment will depend on their success in finding any viable mineral deposits.
Winchester Resources Limited is expected to list under the code WCR and begin trading on the ASX on 17 November 2009. The prospectus is available at www.winchesterresources.com.au.
Posted by aussiefloats 