Gold explorer Boadicea Resources has made a positive start to life on the Australian Securities Exchange, its shares closing at almost three times their issue price on debut today.

Boadicea shares closed at 56.5 cents, after opening trade at 50 cents each, with more than 1.1 million securities changing hands

Boadicea raised $1.12 million through its initial public offering, issuing 5.6 million shares at 20 cents each.

The company holds four options to acquire gold projects in Western Australia; Symons Hill, Lake Austin, Calyspo and Murrin Murrin.

The listing is the seventh this financial year for Perth-based companies and brings the total number of ASX-listed entities headquartered in Perth to 899.