Perth-based Bathurst Resources (BTU) made a solid debut on the Australian stock exchange yesterday, with its shares closing at a premium of 20 cents.
Bathurst shares went as high as 26 cents before closing at 24 cents.
The company raised $3 million ahead of listing via the issue of 15 million shares for gold, nickel and base metals exploration at the Mount Clifford prospect, northwest of Leonora.
The funds will be used to explore Bathurst's Mount Clifford project in the Eastern Goldfields Province of Western Australia, in which it has acquired the right to earn an interest up to 75%.
The project will be acquired upon the exercise of its options and by spending $1 million on exploration over the next 54 months.
Bathurst continued its ascent today, although slower, rising by another 4.17% by 1:00PM AEST to trade at 25 cents.
