Tungsten Mining has made its debut on the Australian Securities Exchange, after raising $5.1 million through its initial public offering last week.
The company became the 14th new Perth listing this year and the 35th nationwide, bringing the total number of ASX-listed entities with Perth as its base to 895.
Tungsten raised $5.1 million at an issue price of 20 cents.
In light trade since listing at 11:00AM today (WST), Tungsten shares gained half a cent, to finish at 20.5 cents, with 60,000 securities changing hands.
The company’s flagship asset is the Kilba Well tungsten deposit in the Gascoyne.
Funds from the IPO will allow the company to fully evaluate the project, including the completion of a definitive feasibility study.
Chairman Patrick McManus is also managing director of ASX-listed Potash West.