Shares in West Perth-based minerals explorer Venture Minerals Ltd closed at 21.5c, up 1.5c on the issue price, with 1.4m shares traded in its ASX debut.
This comes after the company raised $5 million in its Initial Public Offering.
The funds raised by the IPO will be used to acquire and explore four highly prospective projects, located adjacent to world-class deposits throughout Australia. These projects are within existing mineralisation provinces and will give the company exposure to highly priced commodities including Uranium, Copper, Gold, Nickel, Tin and Iron Ore.
The capital raising was co-managed by Max Capital and Montagu Stockbrokers and supported by a panel of leading Australian broking houses.
In announcing the closure of the IPO Venture Minerals Managing Director Andrew Radonjic said, "We have been overwhelmed by the interest in our IPO.
The Venture board and management has extensive combined experience in the Australian resources industry and consists of:Non-Executive Chairman: Mr Mel Ashton Managing Director: Mr Andrew RadonjicNon-Executive Director/Company Secretary: Mr Kent HunterExploration Manager: Dr Stuart OwenManagement Consultants: Mr Steve Parsons & Mr Hamish Halliday
