Murchison explorer Fortunis Resources has made a successful debut on the Australian Securities Exchange after raising $2.8 million through an initial public offering last week.
Fortunis’ stock was trading at 24 cents at 2:00PM WST, up from the issue price of 20 cents.
Fortunis is the 15th listing for Perth and the 36th listing nationwide this financial year.
The company has entered a farm-in agreement to earn up to 51 per cent in granted exploration licence E57/838, located in the eastern Murchison.
The area is considered prospective for gold, copper and vanadium-titanium-iron mineralisation.
Chairman John Rubino said in the company’s prospectus that it intended to use the funds to advance exploration at the project, while also pursuing additional acquisition and investment opportunities.