JOHANNESBURG (miningweekly.com) – Western Australia-focused gold explorer Nelson Resources, led by Peter Cook, made its debut on the ASX on Friday through a A$5-million initial public offering.
Nelson owns five exploration projects – the Socrates, Wilga, Yarrie, Happie Jack and Woolshed projects – which are all located in proximity to large, existing gold operations, such as Sunrise Dam, Carosue Dam and Kanowa Belle.
The company is finalising plans with a drilling contractor and aims to start drilling at the Wallaby prospect at the Yarrie project, 30 km north of Saracen’s Carosue Dam mine, in the coming weeks. The drilling programme will drill about 1 100 m.
Nelson has about A$4.5-million in the bank, which executive director Adam Schofield said positioned the company well for its planned exploration activities.