The Company was incorporated on 13 June 2007 for the purpose of acquiring prospective mineral projects primarily focused on gold, iron ore, uranium and nickel. Since incorporation, the Company has entered into three acquisition agreements. Pursuant to these agreements, the Company acquired an 80% interest in the Pioneer Gold Project and a 100% interest in the Sheeza Gold Project, West Angelas Iron Ore Project, Isabella North Iron Ore Project, Gregory Isabella Uranium Project and Windarra Nickel Sulphide Project.
Chrysalis’ objective is to rapidly develop the identified assets in the six project areas and to advance them as quickly as possible. In recent years, the gold, iron ore, uranium and nickel industries have experienced unprecedented growth with many exciting new development opportunities. Within this dynamic environment, Chrysalis will focus on identifying a proven resource base through an active exploration program as the primary driver of growth.
The Company has 6 project areas which cover a range of target commodities, including gold, iron ore, uranium and nickel. Each of these commodities continue to be in high demand and, due to expanding overseas markets, the Board is of the view that this is likely to remain so for some time.
The Company’s IPO, whereby 15,000,000 shares were offered at an issue price of 20 cents each, was closed oversubscribed raising $3,575,000 through the issue of 17,875,000 at 20 cents each.
The Company’s 41,375,000 shares commenced trading on 29 May 2008.