Slow and steady start for Gawler Rebecca LawsonTuesday, 12...

Slow and steady start for Gawler

Rebecca Lawson
Tuesday, 12 September 2006

The Steinepreis brothers have given their hand to create the latest listed Australian base metals and uranium exploration company Gawler Resources, which enjoyed a steady first day of trading today.


The stock never dipped below its 20c issue price during its first day on the Australian Stock Exchange, and reached an intraday high of 22c before closing steady.

David and Gary Steinepreis, who will hold non-executive chairman and non-executive director positions respectively, come from a background of publicly listing companies on both the ASX and AIM. Joining the brothers is Matthew Sheldrick, who is heading up the company as the CEO, and Gary English who brings to the table experience in law and mining engineering.

Gawler Resources already holds the Pine Row licence on the Eyre Peninsula in South Australia through its wholly owned subsidiary Globe Resources, and previous exploration of this licence by other companies has yielded copper and uranium in three regions. Several targets defined by Gawler are yet to be followed up by drilling.

Gawler also holds seven mineral licence applications in both South Australia and the Northern Territory. Its four licences in the Gawler Craton region of SA are prospective for iron-oxide-copper-gold-uranium Olympic Dam-style mineralisation, while the three licences in NT host potential for uranium mineralisation.

Gawler raised $3 million through the issue of 15 million shares.


http://www.miningnews.net