Frontier Resources spinoff Torque Mining has launched a $4 million initial public offering to fund exploration activities at its gold and metals projects in Tasmania.
The company said it would issue up to 20 million shares at 20 cents each to raise the funds, while the IPO has a minimum subscription caveat of $3 million.
The company’s main focus is exploring the Moina gold project in Tasmania, which has previously been explored by Frontier.
Frontier has spent approximately $8.6 million on exploration at Moina and the SMRV gold project since 2002.
By Dan Wilkie
