Positive TSX debut for MinSec's Platmin

Following the simultaneous commencement of trading on the Toronto Stock Eschange and London's Alternative Investment Market, Perth-based Mineral Securities Ltd platinum subsidiary Platmin Ltd closed up 5c on the TSX at close of trade on Friday.

On the AIM the shares closed at £2.16, up 26p from the issue price of £1.90 per share.

The company raised approximately $53.3 million in the initial public offering of 11,375,000 shares, representing approximately 13 per cent of the enlarged company's shared capital.

Platmin intends to use the money to fund a $20 million feasibility study on its major Pilanesberg project in South Africa.

Following the IPO Minsec maintains a 14.8 per cent interest in Platmin on an undiluted basis, valued at $75.5 million.

RBC Capital Markets and Haywood Securities acted as co-lead managers to the underwritten offering.