- Western Australian minerals explorer Metal Hawk (MHK) has made its debut on the Australian Securities Exchange
- It follows an oversubscribed $5.5 million initial public offering at 20 cents per share, giving the company a $9.5 million indicative market cap
- The company’s immediate focus is exploring its Kanowna East and Emu Lake projects, both located near Kalgoorlie
- Later this month, Metal Hawk will begin stage one of a 15,000-metre drilling campaign to test targets for near-surface gold mineralisation
- Shares have risen 42.5 per cent to 28.5 cents
Metal Hawk (MHK) has begun trading on the Australian Securities Exchange following an oversubscribed $5.5 million initial public offering (IPO).
The Western Australian minerals explorer offered shares at 20 cents each in the IPO, providing the company with an initial market capitalisation of approximately $9.5 million.
Managing Director Will Belbin thanked both new and existing investors for their support and said the company will now turn its attention to an upcoming exploration program in the goldfields.
The company has a portfolio of projects near Kalgoorlie and Norseman, including the Kanowna East and Emu Lake projects.
These two projects are currently fully-owned by Metal Hawk, however, Western Areas has the right to earn a joint venture interest in both for commodities other than gold.
Later this month, Metal Hawk will begin stage one of a 15,000-metre drilling campaign at Kanowna East and Emu Lake to test targets for near-surface gold mineralisation.
Shares have risen 42.5 per cent to 28.5 cents at 2:08 pm AEDT.