Primary Resources IPO to drive WA exploration

Metals explorer Primary Resources Limited has closed its initial public offer oversubscribed and will debut on the Australian Stock Exchange next Wednesday as Australia's newest listed explorer.

The Adelaide-based company has raised inexcess of $3 million and will use the funds to progress exploration at its Warburton-Egerton project in south-eastern Western Australia.

The company has already identified at least four high priority gold, copper and iron oxide drill targets across the 1,500 square kilometre acreage.

It also advanced gold, copper, nickel and uranium assets in the Pilbara region of WA.

Primary Resources' other assets include the 84 square kilometre Steere River gold-copper project in the southwest of Western Australia, in an area of proven mineralisation.

In addition, the Company also owns the Yandeearra gold project, 100 kilometres southwest of Port Hedland.