Tuesday, October 2nd, 2012 - Victory Mines
Victory Mines IPO on ASX fully subscribed raising AUS$4 million despite tough market conditions, trading commences this week

Victory Mines Limited (ASX:VIC) www.victorymines.com has successfully closed its IPO raising of $4 million issuing 20 million shares at 20 cents.

The current announcement of the US Federal Reserve’s ‘QE3’, recent bounce in the rare earth market and stronger focus on the copper price has led Victory Mines to close off its $4 million raise.

Trading on the ASX is expected to commence around Friday 5th October.

An Australian company, established in July 2011, Victory Mines’ focus is on exploring and developing rare earth elements, copper, base metals, PGEs, uranium and gold. It has assets in Western Australian being operating interest in Jungle Well, Clara Hills, Great Doolgunna , Station Bore , Laverton and Lake Barlee.

Victory Mines anticipates a lot of interest in its open of trade with commencement of exploration on listing.

The rare earth projects are located proximal to Lynas Corp’s Mt Weld project, the largest rare earth deposit outside of China.

Exploration at Jungle Well has previous results from trench sampling to grades exceeding 12% rare earth elements.

The Clara Hills project in the Kimberley of WA has copper at surface with rock chips grading to a high exceeding 20%. Commencement of exploration includes drilling in the current year.

The success of the IPO is attributable to Adam Blumenthal, Lead Broker, InvestorFirst Securities Limited.

“Getting this IPO away in such a challenging market demonstrates the unique and attractive nature of the assets as well as the confidence we have in management" comments Blumenthal.

Market capitalisation is on listing will be $13 million.

Ends

Media inquiries:
Louise Convy 0468 776 443 [email protected]
Danny Costick – phone number 0419 991 964
Adam Blumenthal 0405 111 100

Contact Profile

Victory Mines


An Australian company, established in July 2011, Victory Mines’ focus is on exploring and developing rare earth elements, copper, base metals, PGEs, uranium and gold. It has assets in Western Australian being operating interest in Jungle Well, Clara Hills, Great Doolgunna , Station Bore , Laverton and Lake Barlee.
Louise Convy
P: 0468776443
W: www.victorymines.com.au

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Victory Mines, Victory Mines IPO

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