Glory Resources off to strong start

Canada-focused minerals explorer Glory Resources has made an impressive debut on the Australian Securities Exchange, spiking to a 35 per cent premium on its issue price in its first day of trading.

Glory closed its first day on the ASX at 27 cents after listing at 20 cents.

Glory is in the midst of acquiring Canadian diversified explorer Quetico Resources, which holds a 75 per cent interest in the Onion Lake mine in the Lake Superior region.

Quetico Resources also wholly owns two Lake Superior projects, Eagle Lake and Way Lake.

The Lake Superior region has been shown to host large copper, nickel, and platinum deposits.

In addition to the existing Projects, the Company is reviewing other acquisition and joint venture opportunities to secure new projects in the resources sector that meet the Company's objectives and strategies.

Cape Lambert Resources executive chairman Tony Sage is the second largest shareholder in Glory, holding approximately 4 per cent of its shares.