Bathurst makes solid ASX debut

Shares in West Perth-based Bathurst Resources Ltd made a solid debut on the Australian Securities Exchange today, closing at a 20 per cent premium to their issue price of 20 cents.

Bathurst shares went as high as 26 cents before closing at 24 cents.

Ahead of listing, Bathurst raised $3 million via the issue of 15 million shares, for gold, nickel and base metals exploration at the Mount Clifford prospect, northwest of Leonora.

The company will acquire a 75 per cent stake in the project upon the exercise of its options and by spending $1 million on exploration over the next 54 months.

Bathurst Resources is chaired by Ventnor Capital founder John Hannaford in a non-executive capacity. He is joined on the board by Richard Monti, in an executive capacity, and Frank Ashe.

Morgan Barron is company secretary.