PERTH (miningweekly.com) – Junior Western Mines Group has started trading on the ASX, after raising A$5.5-million in an oversubscribed initial public offering (IPO).
The company issued 27.5-million shares, at a price of 20c each, and on listing, had 43.8-million shares on issue, and an enterprise value of A$3.26-million with a market capialisation of A$8.76-million.
Western Mines Group holds a portfolio of eight exploration projects located in Western Australia, including the Mulga Tank nickel/copper/platinum project in the Eastern Goldfields.
Exploration over its portfolio of projects will now ramp up following the IPO.