Exterra Resources targeting gold debuts on ASX after successful IPO
Friday, May 27, 2011 by John Phillips
Exterra Resources (ASX: EXC) debuted on the ASX yesterday after a successful IPO which offered 20 million shares at $0.20 to raise up to $4 million.
When Exterra first traded, the company had around 59 million shares on issue.
Exterra has been formed as a vehicle to acquire and develop gold assets with a company strategy of development and early production.
The company said the initial focus will be on several small to medium scale high projects that have the potential to be developed cost effectively, and importantly are located near processing infrastructure.
Exterra holds two high grade projects at Linden and Egerton, both with a production history, and the recent acquisition of an advanced project at Zelica.
Diamond and reverse circulation drilling has already been undertaken at Linden by Exterra.
Montezuma Mining Company (ASX: MZM) holds a stake in Exterra, which is escrowed until May 2013, which includes 2 million shares and 1.5 million $0.20 options expiring in September 2013.
Quelle proactivinvestor |
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