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Revolver Resources completes successful IPO

Published by , Editor
Global Mining Review,

Revolver Resources Ltd has been admitted to the Official List and commenced trading on the Australian Securities Exchange (ASX), following a successful Initial Public Offer (IPO) raising AUS$12.7 million (before costs).

Pat Williams, Revolver's Managing Director, comments:

“The company’s listing on the ASX today was a significant milestone for the management team and shareholders and benefits the overall growth plans as copper becomes an in-demand commodity due to the world’s increasing electrification.

“World markets need new copper supply and demand is forecast to grow up to 600%, so we have come to the market to fast-track the development of our copper projects in North Queensland.

“Revolver’s portfolio has been diligently put together since 2016. Multiple drilling programs and geological and geophysical works to date, have increased the company’s confidence in its tenure and our planned work is designed to better quantify the already known mineralisation.

“We wish to thank our team of advisers who have assisted us in achieving our successful ASX listing and our shareholders for their continued support, and we look forward to updating the market with our upcoming programs in the coming weeks.”

The company’s Phase 1 exploration program at Dianne Project is focussed on resource drilling and will consist of diamond drilling (DD) and Reverse Circulation (RC) drilling. The opportunity will also be taken to undertake a first pass of detailed field mapping in the general proximity of the historic mining areas.

The company is also undertaking a detailed geological field mapping program at the Osprey project, in order to identify geological trends and outcrops in the southern portion of the project, where basement subcrop and outcrop are present. This will be followed by a geochemical sampling program through obtaining rock chip’s samples from identified target areas. These samples will then be laboratory tested with multi-element assaying.

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Australian mining news Copper mining news