Demetallica has made a promising debut on the stock exchange after completing its significantly over-subscribed $15 million Initial Public Offering.
The fledgling company boasts extensive tenement holdings in Queensland and South Australia demonstrably prospective for base metal mineralisation.
Shares raised at 25 cents started off yesterday at 26 cents, and rose to 28 cents by closing bell.
With its primary focus on the Jericho copper-gold resource adjacent to the Eloise copper-gold mine (owned and operated by AIC Mines), Demetallica has activated its plan to expand the existing JORC inferred resource and increase the resource confidence level.
To that end two drill rigs are operating: a reverse circulation rig concentrating on shallow infill holes within the current resource envelope, and a diamond rig extending high grade copper intersections at the base of modelled resource blocks.
Editor of industrial titles and mastheads with Prime Creative Media. Publications include Rail Express and Australian Mining (web content). View all posts by Ray Chan →
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