NiPlats closes up 10% in ASX debut

Shares in Perth-based minerals explorer NiPlats Australia Ltd closed up 10 per cent on its offer price to 22 cents in its debut on the Australian Securities Exchange today.

The company, which issued 15 million shares at 20 cents each to raise $3 million in its initial public offer, is 56 per cent owned by Mineral Securities Ltd.

NiPlats holds wholly owned mineral exploration tenements in the East Kimberley region of Western Australia, which it believes have potential for platinum, gold, nickel-copper, vanadium and other metals.

The tenements also hold some flourite, which is used as a flux in steel and aluminum processing, and Niplats hopes this can generate some early cashflow.