Iceni Gold makes ASX debut

Western Australian exploration and mining company Iceni Gold has made a promising start to its first day of trading, with shares almost 50 per cent higher than the issue price.

Iceni’s listing follows the completion of a $20 million initial public offering, led by Brisbane-based Morgans Financial.

Under the IPO, 100 million shares were issued at 20 cents each, with funds to go towards drilling and other exploration work at Iceni’s 14 Mile Well gold project, near Laverton.

Iceni has consolidated more than 160 tenements at 14 Mile Well from a large land holding on the western side of Lake Carey, with most tenements previously held by numerous individual prospectors.

Limited systematic exploration has been undertaken to date.

Upon trade close, Iceni shares were trading at 29 cents.

“Today’s listing is a very exciting milestone for Iceni Gold and our shareholders and this is the culmination of many years of hard work from a loyal group of dedicated people that have helped make it all possible,” Iceni executive chair Brian Rodan said.

“Iceni Gold has assembled a world-class exploration team led by technical director David Nixon and with the application of new and advanced exploration techniques we look forward to many successful and exciting times ahead.”

Mr Nixon was previously at Gold Fields as a principal generative geologist, and was also formally a senior geologist at KCGM.