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The Sydney-based company, which aims to list in mid October, has evolved from Gunnedah Coal Company, which was a coal miner until 1997.
The IPO proceeds will mostly be used to fund the exploration, appraisal drilling and development of the company’s projects in the Gippsland and Otway Basins in Victoria, the Eromanga and Willochra Basins in South Australia, the Perth Basin in Western Australia and the Gunnedah Basin in New South Wales.
The company is seeking to raise a minimum of $6 million and a maximum of $10 million, with shares to be sold at 20 cents each.
