Dragon Energy makes premium ASX debut

Dragon Energy has become the first Western Australian company to list on the stock market this year as it shares continue to trade at a premium to its 20 cent issue price.

Shares in the Nedlands-based company opened at 21.5c yesterday before closing at 24c, where it remains untraded at 13:44 AEDT today.

The listing follows a $1.5 million initial public offer.

Chinese company Shandong Taishan Sunlight Group Company is Dragon's largest shareholder with a controlling 56.89 per cent interest, after investing $5 million as seed capital.

Dragon holds a suite of phosphate tenements in the Mt Isa region with Babbling Brooke Hill and Riversleigh projects the centerpieces were resources have already been delineated.

The company has planned a two-year $3.8 million exploration program at both projects to boost resources.