Sheffield Resources in positive ASX debut
Bulk minerals explorer Sheffield Resources Ltd has made a positive debut on the Australian stock exchange following an oversubscribed initial public offer that raised $7 million.
Shares in Sheffield were up three cents, or 15 per cent, at 23 cents at 1532 AEDT after reaching a high of 24 cents in earlier trade.
The offer aimed to raise $5 million, but an additional $2 million worth of subscriptions were accepted, bringing the total public issues to 35 million shares at a price of 20 cents each.
The company will use the funds to fast-track exploration and development of its talc, heavy mineral sands, iron ore and tungsten projects in Western Australia.
"Sheffield has a substantial ground position in proven and emerging mineral provinces, with immediate drilling targets identified by historic exploration activity," the company said in a statement on Wednesday.
Its management team previously founded iron ore explorer Warwick Resources Ltd, which was taken over by iron ore producer Atlas Iron Ltd.
Sheffield Resources in positive ASX debutBulk minerals explorer...
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
15.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $59.32M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5040 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 74866 | 2 |
View Market Depth
| Last trade - 16.21pm 29/08/2025 (20 minute delay) ? |
| SFX (ASX) Chart |
Day chart unavailable