RFC Ambrian – a major investor and advisor to CMA – recently announced the listing of Chrysos, marking the next phase for this business and a significant milestone in a successful partnership with the CSIRO dating back to 2016.
Chrysos is an Australian technology company which uses high-powered X-rays to bombard rock samples and activate atoms of gold and other metals. A detector can determine their concentrations in minutes resulting in a technology that displaces a hazardous manual process, reduces CO2 emissions, and greatly reduces sampling data turnaround times.
Rob Adamson, who serves as Chairman of CMA, has also served as Chairman of Chrysos Corporation since the company was formed to commercialise the disruptive PhotonAssay technology. The deal gives the company an enterprise value of A$535m and implies a market capitalisation of A$637m at issue and marks it out as the largest IPO on the ASX so far this year.
CMA’s management team is encouraged this successful commercialisation of Australian technology for heavy industries.