IPO Watch: Viridis rockets 90pc on debut, preps for Canadian gold exploration

Diversified sources explorer Viridis Mining and Minerals (ASX:VMM) listed right now after elevating $5m at $0.20 per share.

It has gone off like a frog in a sock with shares peaking at $0.40 earlier than levelling off at $0.38 cents – an enormous 90pc above difficulty value.

The corporate has 5 initiatives in Australia and Canada: South Kitikmeot and Boddington West (gold), Bindoon (nickel, copper, PGEs) and Poochera and Smoky (kaolin-halloysite).

“The wonderful assist we’ve obtained from traders means we at the moment are effectively funded to execute work packages throughout our portfolio,” Non-executive chairman Adha Shahzad stated.

“The corporate’s preliminary focus might be to undertake a drill goal era program on the South Kitikmeot Undertaking, with follow-up drilling to be accomplished at outlined targets.”

Doubling down on drill targets 

Early-stage exploration has been promising with a major, partially examined drill goal already outlined on the Esker Lake prospect.

The corporate say that re-interpretation of current floor magnetic and electromagnetic information is required, with doable re-surveying if information might be improved with extra up to date methods.

And if optimistic geophysical and geological survey outcomes proceed, the main focus might be to delineate potential diamond drill targets.

Holds floor close to the massive boy Boddington mine

Mapping and sampling packages will kick off on the the rest of the initiatives together with Boddington, a greenfields alternative simply 1km from Newmont’s (ASX:NEM) mammoth Boddington mine in WA.

Restricted exploration has been undertaken inside the Boddington West Undertaking, with a lot of the exploration within the broader space focussed on exploration for extra tonnages surrounding the prevailing Boddington Mine.

Viridis says that the interpretation of regional geology and airborne magnetics means that comparable buildings to the Boddington Mine may proceed westwards and north-westwards into the Boddington West Undertaking space, warranting detailed evaluate and on-ground exploration.



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