Bullion Minerals to list this month

PERTH-based nickel sulphide explorer Bullion Minerals Limited is set to list on the Australian Stock Exchange either late this month or early next month after closing its $3 million initial offering, oversubscribed within one day of the opening date of the issue.

The offer was underwritten by Intersuisse Ltd.

Bullion executive director Mark English said the outstanding response reflected increasing investor interest in new exploration companies with quality assets and management and the strength of the nickel market, which has seen significantly improved prices in line with strong world economic growth.

Bullion plans to use the proceeds to aggressively explore a high-quality package of exploration ground immediately adjacent to the Maggie Hays and Emily Ann nickel sulphide deposits in the Lake Johnston region of Western Australia, one of Australia’s prospective nickel provinces.

“We have also been buoyed by the recent news that LionOre Australia (Nickel) Limited is to commence development at the Emily Ann project after reaching in principle agreement on project finance terms,” Mr English said.