Kumarina Resources made a steady entry to the ASX yesterday after raising $10.3 million through its initial public offering.
The Perth-based company said it will now focus on continuing its exploration programs at the Ilgarari copper and Murrin Murrin gold projects.
Kumarina managing director Jamie Sullivan said he was pleased the company was well supported in what had been a testing time for capital markets.
“It is apparent from the interest generated by the IPO that investors see there is potential for exploration success at both of the company’s projects,” he said.
Kumarina features a high profile board, with Forge Group executive chairman Peter Hutchison and GME Resources director Geoffrey Motteram acting as non-executive directors, while Resolute Mining managing director Peter Sullivan holds the chairman position.
The company’s shares were unchanged from their issue price at 25 cents at 1.45pm WST today.
