Gold and copper explorer Ausmex Mining Group has debuted on the ASX after completing a reverse takeover of Perth-based Eumeralla Resources.
Sydney-based Ausmex joins the bourse with the objective of acquiring assets to explore for gold and copper, with assets already owned in Queensland and South Australia.
The company raised $6 million as part of the backdoor listing, having issued 75 million shares at 8 cents each.
At 11:30am, Ausmex shares were down 3.7 per cent to 7.7 cents each.
As part of the acquisition, Eumeralla chairman David Wheeler has retained a position on Ausmex’s board as a non-executive director while Matthew Morgan has been appointed managing director, with Andrew Firek as chairman and Geoff Kidd as a director.
Blackwall Legal acted as solicitor to the company.