West Perth-based gold and base metals explorer Centaurus Resources Ltd has debuted strongly in a bad day for the Australian Securities Exchange, closing at 89.5 cents, up 258 per cent from its offer price of 25 cents.
The company debuted on the ASX after raising $4 million in its initial public offering, to fund evaluation and exploration of its projects in New South Wales and Western Australia.
The company, which issued 16 million shares to raise the money, offered over 70 per cent of its total shareholding to subscribers in the offer.
Centaurus will conduct testing at its Yalgoo project, located in the Yalgoo greenstone belt in the Murchison, 370 km north of Perth, along with 5 NSW projects - some in the Lachlan Fold Belt - seeking further gold and base metal mineralisation.
The company is chaired by Mark Papendieck, who is joined on the board by YTC Resources Ltd directors Stephen Woodham and Richard Hill. Matthew Sikirich will serve as company secretary.
Ernst & Young served as auditors and independent accountant to the company, with legal advice being provided by Steinepreis Paganin.
