WildHorse charges ahead in first day's trade, up 170%

Shares in West Perth uranium company WildHorse Energy Ltd have charged ahead to close at $1.08, 170 per cent up from its initial offer price of 40c, in an impressive ASX debut.

In an announcement earlier today, WildHorse managing director Richard Pearce said he was very pleased with the market's confidence in the company.

"The market has shown strong support for WildHorse, which has great potential to rapidly develop uranium operations in the US and Hungary," he said.

The WildHorse float was managed by Argonaut Ltd, which announced today that it had become a substantial holder in the company, with 8.72 per cent.

The stock opened at 90 cents this morning, on the same day the company announced it had been granted two new prospecting licenses in Hungary, effectively a seven-time increase in its uranium holdings at its core Pecs and Bataszek Projects in southern Hungary.

WildHorse will complete a detailed program to evaluate its Hungarian projects, and where possible determine JORC compliant uranium resources. The company has specifically acquired projects in Hungary and the US, areas with a history of uranium mining and production and positive government and community support.

"We plan to exploit the increasing demand for cheap, efficient and emission-free nuclear energy in Hungary and the US," Mr Pearce said.

WildHorse also announced this week it had paid the outstanding balance of the purchase price (US$700,000) owing on its Sweetwater mining claims in Wyoming, USA.