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Wednesday, 1st February 2006 (5199 views)

The Australian gold explorer ActiveEX plans to list on the Australian stock exchange, with shares available from this week.

The Queensland-based company hopes to raise up to $3.5 million, which will be used to fund its other work on gold targets, the Sydney Morning Herald reports.

ActiveEX will offer up to 17.5 million shares, valued at 20 cents each. The offer closes on March 3rd with a provisional listing date of March 16th.

Most of the funds raised during the process will be used to finance its key exploration programme at Prospect Creek, while some will also be diverted to its Booubyjan project.

The Booubyjan project sees ActiveEX team up with Minotaur Exploration Ltd, which has funded $2 million of exploration work in return for the right to earn up to a 75 per cent interest in the project.

 

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