Mining explorer, Macquarie Harbour Mining (MHM) rose 10% to 22 cents a share on its debut on Friday.
The Tasmanian-based explorer issued 30 million shares at an offer price of 20 cents per share.
In its prospectus, the company said its projects are all within well known mineralised areas and have each been subject to previous prospecting and exploration activity.
Tenements are based in Tasmania and divided into the West Coast and North Eastern Tasmania Tenements Area.
In the West Coast Tasmania Tenement Area the company's regional targets are prospective for gold, copper, nickel, zinc, iron ore and platinum group metals.
In the North Eastern Tasmania Tenement Area, Macquarie Harbour is exploring two readily identifiable projects prospective for gold and tin.
"The company plans to initially target the gold and tin prospects within the North East Tasmanian project area. These tenements contain 10 old gold mines and 13 alluvial tin deposits," chairman Basil Conti said in the prospectus.
Stock in Macquarie Harbour opened 0.5 cents up at 0.205 cents, and closed at 22 cents.
