LinQ Minerals launches IPO to fast-track gold-copper exploration at Gilmore Project

LinQ Minerals Ltd has launched an initial public offering (IPO) to raise between A$7.5 million and A$10 million ahead of its listing on the Australian Securities Exchange (ASX), offering investors exposure to a large-scale gold-copper project in New South Wales’ Macquarie Arc.

The company is offering between 37.5 million and 50 million shares at an issue price of A$0.20 per share under the IPO. The offer is now open. 

The money raised will primarily fund drilling at priority targets in the Gilmore Project and progress the Southern Startup deposits.

Bell Potter Securities and Alpine Capital have been appointed as joint lead managers.

Tier-1 district, substantial resource base

LinQ holds 100% of five exploration licences within the Gilmore Project, spanning 597 square kilometres between Temora and West Wyalong. The project is situated in the Macquarie Arc, a world-class mineral province hosting notable mines such as Cadia, Northparkes and Cowal.

Regional Geological setting of the Gilmore Project showing neighbouring projects estimated pre-production geological endowment.

In August 2024, LinQ Minerals Limited reported a JORC-compliant Mineral Resource Estimate (MRE) for its Gilmore Project of approximately 516 million tonnes containing 3.7 million ounces of gold and 1.2 million tonnes of copper. The resource is distributed across six deposits, all starting from near surface and remaining open both along strike and at depth.

The company intends to start drilling immediately, targeting more than 20 porphyry and epithermal-related prospects identified across the tenement. Directors believe these targets hold potential for transformative discoveries.

A key brownfield opportunity within the project is the Southern Startup area, comprising the historically mined Gidginbung gold deposit and the adjacent Dam porphyry copper-gold deposit. Gidginbung was previously operated between 1987 and 1996, when the gold price averaged around A$460 per ounce.

The combined Southern Startup MRE totals approximately 55 million tonnes containing 1.2 million ounces of gold and 120,000 tonnes of copper, defined to a depth of only 300 metres. Preliminary technical studies are underway to assess pathways for advancing this development opportunity.

Exploration-driven growth strategy

With over 20 identified porphyry and epithermal-style prospects across a 40-kilometre strike, LinQ plans to deploy IPO proceeds towards systematic drill testing. The company believes the Gilmore Project has “game-changing” discovery potential, with all six resource deposits open at depth and along strike.

Initial drilling will focus on prospects in the central and southern zones, including brownfield opportunities at Gidginbung and the Dam, to extend known mineralisation and evaluate development potential.

Experienced leadership to drive exploration

LinQ Minerals is led by executive chair Clive Donner, founder of the LinQ Group and former director at NM Rothschild Australia, alongside executive directors Michael Gibson and Harrison Donner. 

The company’s board includes experienced mining professionals Geoffrey Jones and Dr Evan Kirby, while geologist Scott Munro, who has worked on the Gilmore Project for over seven years, leads geological operations.

The IPO marks a key step in advancing one of New South Wales’ most promising undeveloped gold-copper projects.