Cradle Resources is well positioned in the junior exploration sector after completing a $2.4 million initial public offering and listing on the Australian Securities Exchange, chairman Michael Ashforth says.
Cradle announced today it had listed on the ASX, after its IPO closed oversubscribed.
The company is headquarters in Perth and holds exploration assets prospective for base metals and iron ore in the Pilbara.
Its board comprises Macquarie Group executive director Mr Ashforth, Ampella Mining corporate director Evan Cranston and Westoria Resource Investments technical director Brendan Cummins.
Mr Ashforth said the team was “highly capable” and had a proven track record of acquiring and developing resources opportunities.
The company said it would focus on exploring its asset portfolio, while also assessing other opportunities for investment, domestically and internationally.
At 1:47PM(WST) Cradle’s stock was trading at 25 cents.
