Lightning Minerals has commenced trading on the ASX, following strong interest in the initial public offering of about $40 million.
The company has raised $7m to conduct exploration activities for critical minerals and lithium at its fully-owned flagship Dundas project as well as Mt Jewell, Mt Bartle and Mailman Hill projects in Western Australia.
The Dundas region is currently experiencing a significant amount of exploration across multiple commodities, including lithium, PGEs, nickel, REOs, copper and gold.
Lightning Minerals chief executive officer, Alex Biggs, said the listing followed “a lot of hard work” by the company, its advisors PAC Partners and the legal team.
“To be exposed to the critical minerals and lithium thematic is a fantastic opportunity underpinned by our highly prospective Dundas project and supported by the extremely strong response to the IPO,” he said.
The Dundas project is located near Norseman and consists of eight tenements totalling 454 square kilometres.