Australian exploration company Cooper Metals Limited has successfully listed on the ASX with high hopes of its Mount Isa prospects.
The oversubscribed IPO raised $4,800,000 at 20 cents per share with 40 million issued shares and Cooper says it is now well funded to execute its comprehensive copper and gold exploration strategy in North West Queensland and Western Australia
Advertisement
Cooper's flagship Mount Isa East Project covers a large 1300sqkm portion of the Mount Isa Inlier highly prospective for copper and gold mineralisation and is complimented by two Western Australian gold projects.
Cooper Metals Managing Director Ian Warland said the company's listing on the ASX waa is a significant milestone for the company.
"Cooper has three exciting greenfields projects which are highly prospective for copper and/or gold, with several targets already identified for follow up exploration," Mr Warland said.
"With copper and gold prices at near all-time highs, coupled with Cooper's modest market capitalisation, the Company's share price is highly leveraged to any exploration success."
The Mount Isa East Project comprises five tenements 30km south east of the city where Cooper is exploring for Iron oxide copper gold and shear hosted copper-gold mineralisation.
Cooper has reviewed historical data and intends to conduct further groundwork including geochemical mapping and sampling, geophysics prior to drill testing ranked targets.
Want news highlights delivered to your inbox? Sign up to the North Queensland Register newsletter below.
Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
