Bora Bora Resources holds firm in first six trading days as a public company on Astini News
(ASX: BBR) has shrugged off the uncertainty that many companies pondered when considering to list in the current choppy market, with Bora Bora making a very solid start since the Friday 11th May debut.
Since completing a successful IPO which offered 12.5 million shares at A$0.20 to raise up to $2.5 million, Bora Bora has held firm on the ASX and traded in a very tight range between $0.19 and $0.205 - and there are reasons for the investor interest.
Bora Bora has already commenced its gold quest with the proposed acquisition of the St Arnaud gold project, which covers the St Arnaud goldfield, in the central Victorian goldfields.
Highlighting the prospectivity of the area, historic production at the St Arnaud goldfield between 1855 and 1916 totalled over 360,000 ounces at above 15 grams per tonne (g/t) gold.
Bora Bora will focus on identifying targets along strike and parallel to the St Arnaud historic lines of lodes.
The company has allocated around $1.7 million of the funds raised in its IPO to exploration, $50,000 to project generation and $113,000 to working capital.
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