Rox lists on ASX at a 20 percent premium
SYDNEY, Nov 28 (Reuters) - Mineral explorer Rox Ltd debuted on the Australian Stock Exchange at a premium on Tuesday, its shares opening trade at 24 cents from a 20 cent issue price.
After 30 minutes of trade, the shares had ticked up to 30 cents and around 232,700 shares had traded.
Rox, a spin-off of Internet gaming group My Casino Ltd's gold and base metal assets, raised A$2.2 million prior to listing through the offer of around 10 million shares to My Casino shareholders. Rox's mineral asset portfolio is comprised of 11 Western Australian exploration projects, including three where exploration is funded by the group's joint venture partners.
The group also announced on Tuesday that Swiss investor Hans-Ruedi Moser, who has backed a number of small Western Australian firms, has resigned as a director of the firm.
Formerly known as Abador Gold, My Casino was one of scores of tiny miners dubbed "digger.coms" who sought to change their business activities after a slump in gold prices.
Its shares were flat at nine cents in early afternoon trade, a long way from their A$1.15 year high.
(c) Reuters Limited 2000
REUTER NEWS SERVICE
SYDNEY, Nov 28 (Reuters) - Mineral explorer Rox Ltd debuted on the Australian Stock Exchange at a premium on Tuesday, its shares opening trade at 24 cents from a 20 cent issue price.
After 30 minutes of trade, the shares had ticked up to 30 cents and around 232,700 shares had traded.
Rox, a spin-off of Internet gaming group My Casino Ltd's gold and base metal assets, raised A$2.2 million prior to listing through the offer of around 10 million shares to My Casino shareholders. Rox's mineral asset portfolio is comprised of 11 Western Australian exploration projects, including three where exploration is funded by the group's joint venture partners.
The group also announced on Tuesday that Swiss investor Hans-Ruedi Moser, who has backed a number of small Western Australian firms, has resigned as a director of the firm.
Formerly known as Abador Gold, My Casino was one of scores of tiny miners dubbed "digger.coms" who sought to change their business activities after a slump in gold prices.
Its shares were flat at nine cents in early afternoon trade, a long way from their A$1.15 year high.
(c) Reuters Limited 2000
REUTER NEWS SERVICE
