PERTH (miningweekly.com) – Junior gold and copper explorer Torrens Mining has started share trading on the ASX, after raising A$10-million in its initial public offering (IPO)
The company on Thursday revealed that it had issued 50-million shares, at a price of 20c each under its IPO, with the proceeds going towards exploration initiatives in Victoria, South Australia and Papua New Guinea (PNG).
“The strong investor interest in Torrens’ IPO and its associated exploration portfolio represents a strong endorsement of our assets and management team and the strength of our core strategy, which is to discover and develop gold and copper deposits in Australia and PNG,” said chairperson Bill Bloking.
MD Steve Shedden noted that the start of trading on the ASX was a landmark milestone for the company.
“We are extremely pleased to have reached this next chapter in Torrens’ story. We thank shareholders for their strong support and endorsement in Torrens through the IPO process, and we look forward to implementing our exploration plans as soon as possible in 2021.”
The company, which will be trading under the code TRN, owns the Mt Piper gold project in Victoria, some 30 km southeast of the Fosterville gold mine, as well as the Club Terrace gold project in Victoria, and the Elizabeth Creek copper/cobalt project, in South Australia. Torrens also owns the Laloki copper/gold project, in PNG.