PERTH (miningweekly.com) – Junior explorer Revolver Resources has officially listed on the ASX, following an initial public offering (IPO) which raised A$12.7-million.
Revolver issued more than 63.2-million shares under its IPO, at an issue price of 20c a share.
“The company’s listing on the ASX today was a significant milestone for the management team and shareholders and benefits the overall growth plans as copper becomes an in-demand commodity due to the world’s increasing electrification,” said MD Pat Williams.
“World markets need new copper supply and demand is forecast to grow up to 600%, so we have come to the market to fast-track the development of our copper projects in North Queensland.”
“Revolver’s portfolio has been diligently put together since 2016. Multiple drilling programmes and geological and geophysical works to date, have increased the company’s confidence in its tenure and our planned work is designed to better quantify the already known mineralisation.”
Revolver holds a portfolio of under-explored assets, including the near-term Dianne prospect, north-west of Cairns, which comprises six mining leases and an exploration permit, and the Osprey project, which consists of six exploration permits north of Mount Isa, with established prospectivity for iron oxide/copper/gold.