Eagle Mountain in top flight on stellar market debut | The West Australian
Eagle Mountain in top flight on stellar market debut
Eagle Mountain in top flight on stellar market debut | The West Australian
Charlie Bass’ latest exploration play Eagle Mountain Mining has made a stunning debut on the Australian Securities Exchange.
The US-focused copper-gold play, which raised $8 million in a heavily oversubscribed initial public offering, closed yesterday at 34¢, a 70 per cent premium to its 20¢ issue price.
Eagle Mountain, which was the 100th company to list on the ASX this financial year, is focused on the Silver Mountain copper-gold project near Phoenix in Arizona.
The project has historic workings but no modern exploration techniques have been applied to its geology.
Mr Bass said the area had been mined for high-grade copper from the 1890s to the 1920s. “This is the first time the fragmented land ownership along the main copper mining trend has been consolidated in one entity,” he said.
Eagle Mountain in top flight on stellar market debut | The West Australian
Eagle Mountain has identified three prospects of interest at Silver Mountain from electro-magnetic surveys, mapping and sampling done.
Mr Bass will head Eagle Mountain as managing director and chief executive with Paladin chairman Rick Crabb as chairman and former PwC partner Roger Port as non-executive director.
Mr Bass made his fortune when the Pilbara iron ore play he co-founded with Tony Poli in 2000, Aquila Resources, was taken out by China’s Baosteel and rail operator Aurizon in 2014 in a deal worth $1.4 billion.
More recently he has turned his attention to setting up a college to teach researchers, masters students and postgraduates how to become entrepreneurs and develop businesses. The Centre for Entrepreneurial Research and Innovation is on Stirling Highway in Nedlands near the University of WA.
https://thewest.com.au/business/min...-flight-on-stellar-market-debut-ng-b88776880z
