30/08/2016 - 13:33

New gold, lithium play debuts on ASX

30/08/2016 - 13:33

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Local gold and lithium explorer Berkut Minerals has enjoyed steady gains on its first day of trading on the ASX after completing a $3.5 million initial public offering.

New gold, lithium play debuts on ASX

Local gold and lithium explorer Berkut Minerals has enjoyed steady gains on its first day of trading on the ASX after completing a $3.5 million initial public offering.

Subiaco-based Berkut raised the funds through the placement of 17.5 million shares at 20 cents each, with Max Capital acting as lead manager.

At 1:30pm, its shares were worth 23.5 cents each.

The company is chaired by Michael Bohm, who also sits on the boards of Perseus Mining and Ramelius Resources, and is also chairman of Tawana Resources.

Founding managing director of Dacian Gold, Paul Payne, also sits on Berkut’s board as a non-executive director, alongside Renaissance Minerals co-founder Justin Tremain.

Berkut owns a prospective lithium tenement in the Little Sandy Desert, which it has named the Capricorn lithium project, and also holds tenements prospective for gold and base metals west of Tom Price.

The company has also recently entered into an agreement to acquire up to a 70 per cent interest in Coccinella’s Cairn Hill gold project, which lies just west of Paraburdoo.

Steinepreis Paganin acted as solicitor for Berkut’s prospectus, with Grant Thornton as auditor.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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