Logo of Phnom Penh Post newspaper Phnom Penh Post - Brighton readies for Sydney share listing

Brighton readies for Sydney share listing

Brighton readies for Sydney share listing

SHARES of Cambodian-centred miner Brighton Mining Group Ltd will begin trading on the Australian Stock Exchange tomorrow.

The firm’s managing director Jonathan Remta said yesterday that Brighton’s initial public offering had raised A$2.2 million (US$2.17 million) at $0.20 per share, but added Brighton expected to obtain other funding streams in the next six months.

“We actually do have other short term future funding arrangements in place – it will definitely be a combination of three or four [that provide funding],” he said yesterday. He did not disclose the nature of the funding arrangements.

Brighton is exploring concessions in Mondulkiri province for gold and other metals, with three drilling projects planned between now and May of next year.

The firm is still in its exploration stage, but claims it will be as aggressive as possible with exploration activities to discover a resource.

A decision on extraction depends on many variables, “but we would like to think three or four years down the track we would like to be able to look that way”, said Remta.

The firm’s market capitalisation is A$10.5 million. Brighton directors and vendors will hold a controlling stake in the firm even after the float.

Brighton has the right to acquire by transfer 70 percent of Cambodian-incorporated joint venwture Sun Hill Minerals Co Ltd, which owns the exclusive rights on three semi-contiguous concessions in Mondulkiri province, according to the firm’s prospectus. Its three concessions are labelled as Antrong, Ropoah and Kang Roland, all in Peachea Da district.

Meanwhile, another Australian miner Southern Gold has laid out its plans for exploration in Cambodia over the next several months in its quarterly activities report filed on the ASX on Friday. It announced drillhole results of 14.6 grams of gold per tonne of ore at a depth of 3 metres on its Gossan Prospect in Kratie province.

The mining company will conduct follow-up work at high-priority targets.

MOST VIEWED

  • Temi tourism project approved by the CDC

    The $500.4 million Tourism, Ecological, Marine and International (Temi) tourism project has been approved by the Council for the Development of Cambodia (CDC), according to a notice on its Facebook page on Monday. The project is part of Chinese-owned Union City Development Group Co Ltd’s (

  • Rainsy will return at ‘favourable time’

    Opposition figure Sam Rainsy on Saturday suggested he would not return to Cambodia as he had previously promised, saying that like liberators King Father Norodom Sihanouk and Charles de Gaulle, he would only do so at a “favourable time”. “I will go back to Cambodia

  • NagaWorld casino sees net profit of more than $390M last year

    Phnom Penh’s NagaWorld casino posted a 53 per cent net profit increase last year at $390.6 million, a sum which is almost equal to the combined net profit of all Cambodian commercial banks in 2017. NagaWorld’s parent company, NagaCorp Ltd, is listed on the Hong Kong

  • US Embassy urged to stop ‘disrespecting sovereignty’

    The Ministry of Foreign Affairs and International Cooperation called on the US Embassy in Phnom Penh on Saturday to respect the Vienna Convention on Diplomatic Relations after it called former opposition leader Kem Sokha “an innocent man” – a move deemed to be “disrespecting Cambodia’s