Godolphin Resources probably the best of the mining IPO's in 2019 with a head start resource in excess of 400,000 oz gold and exploring in the same area as the recent Boda discovery of porphyry gold - copper by Alkane Resources at the Lachlan Fold Belt in New South Wales and where Alkane has just resumed follow up drilling.
The Godolphin IPO has been extremely well supported particularly by Ardea shareholders who also receive an in specie distribution and has closed early for a December listing.
Ardea CEO Andrew Penkethman commented:
The Godolphin IPO has been exceptionally well supported, likely reflecting recent exploration successes in the Lachlan Fold Belt. In particular, Godolphin’s Copper Hill East gold-copper project in the Molong Volcanic Belt has come to the fore, reflecting the recent Boda porphyry discovery, 50km north along structure, and Cadia- Ridgeway gold mining operation 50km to the south.
GRL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
