Breaker trades higher on ASX debut
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Perth-based gold explorer Breaker Resources has listed on the Australian Securities Exchange, after completing an $8.5 million initial public offering.
Breaker holds a series of gold exploration tenements in the eastern goldfields, covering a total area of 5,541 square kilometres.
It believes the area has significant untapped gold potential that could be unlocked through new research, data releases and recent discoveries in the area.
The company said funds from the IPO, which was priced at 20 cents, would be used to advance exploration activities and firm up discoveries across its tenements.
It expects to start drilling at its Dexter project in mid-May.
Breaker is the 34th Perth-based company to list this financial year, taking the total number of ASX-listed firms with a Perth headquarters to 881.
Its shares traded as high as 22 cents today, before closing at 21 cents.
“We are pleased that despite a depressed market, we have received a positive response on the first day of trading for Breaker Resources," chairman Tom Sanders said in a statement.