Exploration company Exterra Resources is planning an Initial Public Offering of $5 million.
Exterra is a WA-focus company with three main projects at Laverton, the Gascoyne and Leonora.
The company will issue 25 million shares at an issue price of 20 cents each.
Exterra has reserved the right to accept oversubscriptions of up to an additional 10 million shares to raise another $2 million.
See full company statement below:
Exterra Resources Limited ("Exterra") is pleased to announce that it has opened its IPO offer for the issue of up to 25,000,000 shares to raise $5,000,000 at an issue price of 20 cents.
Exterra reserves the right to accept oversubscriptions of up to an additional 10,000,000 shares to raise up to an additional $2,000,000.
Exterra is a Western Australian gold exploration and development company focussed on its three main projects at Linden, Egerton and Leonora.
The Linden project, located in the Laverton Tectonic Zone south of Sunrise Dam Gold Mine, contains an initial high grade Exploration Target of 60-125kt at 10-15g/t gold with the company planning to commence drilling immediately upon listing.
The Egerton Project is located in the Gascoyne region of Western Australia and is located in Lower Proterozoic rocks that also host several large gold mines including Peak Hill and Fortnum.
The Leonora Project is located adjacent to Navigator Resources' Mertondale Project and contains a number of significant RAB anomalies that require follow up by reverse circulation (RC) drilling.
A Replacement Prospectus was lodged with ASIC on 29th October 2010. It is available for download by clicking on the following link:
