Barrenjoey told investors over the weekend that deal proceeds would fund recently announced contract wins.
a gold sample testing company making inroads with technology that is disrupting the industry, is preparing to raise equity and has hired Barrenjoey Capital Partners to oversee the mooted cash call., whose shares have risen almost 150 per cent year-to-date, would look to raise about $75 million. Barrenjoey is expected to launch the raising as early as Monday.
The Chrysos photon assay process stemmed from a discovery made by CSIRO physics researchers. The process uses high-powered X-rays to bombard rock samples and activate atoms of gold and other metals. A detector can determine their concentrations in minutes. The large testing units are about the size of three shipping containers positioned side-by-side.
Large samples of up to 500 grams can be assessed using the Chrysos technology, without being destroyed as they are in the traditional fire assay process, which involves sending samples to a laboratory and heating to 1200 degrees to discover how much gold the samples contain. Barrenjoey oversaw Chrysos’ initial public offering on the local bourse in May last year, issuing shares at $6.50 apiece. The shares fell to trade around the $3 mark in the months following the listinghas co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.is a co-editor of the Street Talk column.
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