Australasian Gold’s (ASX:A8G) securities begin trading after $5.5M IPO

• Australasian Gold’s (A8G) securities have begun trading on the ASX after the company successfully raised $5.5 million via an initial public offering (IPO)
• The material stock was added to quotation on Tuesday, May 11, while its shares began being traded on Thursday, May 13
• A8G owns three differing gold assets across Australia, including the Fairview Gold Project, May Queen Gold Project and Mt Clermont Gold Project
• The company will use the funds from its recent IPO to help fund exploration programs at the projects in Queensland and WA
• Towards the close of trading today, A8G was trading down 12.5 per cent at 17.5 cents per share

Australasian Gold’s (A8G) securities have begun trading on the ASX, after the company successfully raised $5.5 million via an initial public offering (IPO).

The material stock was added to quotation earlier in the week on Tuesday, May 11, while its shares officially began being traded on Thursday, May 13.

A8G enters the ASX holding three differing gold assets across Australia, including the Fairview Gold Project, May Queen Gold Project and Mt Clermont Gold Project

Fairview is located in WA’s Pilbara region, and Australasian has an application for tenement still pending.

May Queen and Mt Clermont are both located in Queensland, and the company has stated both assets have significant potential.

Australasian Gold will use the funds from its recent IPO to help fund exploration programs at the projects, including drilling campaigns.

The two Queensland-based assets will be explored first, with $1.82 million to be spend on May Queen and $1.3 million on Mt Clermont.

Meanwhile, A8G shares opened on their maiden day of trading at 18 cents per share.

Towards the close of trading on Thursday, the company’s securities were trading down 12.5 per cent at 17.5 cents per share.