Shares in First Development Resources (AIM:FDR) began trading on London’s AIM market on Tuesday, after it raised £2.3 million to help accelerate exploration across its portfolio of early-stage mineral projects in Australia.
FDR is focused on discovering copper, gold, rare earth elements, lithium, and uranium in some of Australia’s most promising mineral provinces.
Its flagship asset is the Wallal Project in Western Australia’s Paterson Province, an area with a strong track record for world-class gold and copper discoveries.
Three distinct copper-gold targets have already been identified at Wallal, with the first phase of drilling expected to start soon.
Alongside Wallal, FDR holds the Ripon Hills and Braeside West projects, both in Western Australia, and the Selta Project in the Northern Territory.
The latter covers ground prospective for lithium, uranium, rare earths, gold and base metals. Initial exploration at Selta will target four areas identified as particularly promising for these critical minerals.
CEO Tristan Pottas said: "First Development Resources' admission to AIM comes at a time when the world needs more critical, precious and base metals.
"This presents an exciting opportunity for a company such as ours with ownership of four diverse exploration and development assets located within one of the world's most attractive mining jurisdictions.
"We believe FDR represents significant potential and are eager to accelerate both exploration and corporate development activities immediately following our listing."
In early trading, the stock was steady at 6.67p.