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- Bellavista Resources (BVR) is still trading about 25 per cent up on its IPO issue price after debuting on the ASX mid-week
- The company has been backed by Bellevue Gold (BGL) founder and managing director Steve Parsons and executive chairman of Capricorn Metals (CMM) Mark Clark, who each own a 10 per cent stake
- The top 20 shareholders of Bellavista account for nearly 60 per cent of the company, while institutions hold 12 per cent
- The key focus will be battery metals zinc, nickel and copper, with three target areas along a 130-kilometre corridor in the Upper Gascoyne region of Western Australia
- A fourth target is prospective for platinum group elements and uranium
- Shares in Bellavista Resources opened 2.04 per cent higher this morning at $0.25
Bellavista Resources (BVR) is still trading 25 per cent up on its IPO issue price after debuting on the ASX mid-week.
The company has been backed by several resources industry leaders, including Bellevue Gold (BGL) founder and Managing Director Steve Parsons and Executive Chairman of Capricorn Metals (CMM) Mark Clark who each claimed a 10 per cent stake.
The top 20 shareholders of Bellavista account for nearly 60 per cent of the company, while institutions hold 12 per cent.
The key focus will be battery metals zinc, nickel and copper, with three target areas along a 130-kilometre corridor in the Upper Gascoyne region of Western Australia. A fourth target is prospective for platinum group elements and uranium.
Bellavista raised $6.5 million through an over-subscribed IPO which will be used for works at its Edmund project and the company is primed to launch an initial $3.6 million, 17,000-metre drill program.
Bellavista has accessed drilling results dating back 25 years from CRA/Rio Tinto.
At the western end of Bellavista’s landholding is the Kiangi uranium target which has historic surface rock chip samples returning grades up to 1200 parts per million (ppm) uranium.
Chairman Mel Ashton said Bellavista was constructed to maximise its prospects for success as an explorer and project developer.
“We have established an exceptional team with an enviable track record of creating value for shareholders across the resources spectrum, ranging from exploration and development to production and corporate transactions,” he said.
“The decisions by Mr Parsons and Mr Clark, who have such outstanding track records in the resources industry, to invest in Bellavista is a ringing endorsement of the enormous potential of our company and its projects.
“While they have no formal involvement in Bellavista beyond being shareholders, they have both offered to share their knowledge and experience to assist our team. We look forward to seeking their counsel as we implement our strategy.”
The Deal Room interviewed executive director Mick Wilson. The company has a market cap of $16.37 million and shares have opened 2.04 per cent higher this morning at $0.25.
