Metal Hawk (ASX:MHK) - Managing Director, Will Belbin (right)
Managing Director, Will Belbin (right)
Source: ABC
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Western Australian minerals explorer Metal Hawk (MHK) has made its debut on the Australian Securities Exchange
  • It follows an oversubscribed $5.5 million initial public offering at 20 cents per share, giving the company a $9.5 million indicative market cap
  • The company’s immediate focus is exploring its Kanowna East and Emu Lake projects, both located near Kalgoorlie
  • Later this month, Metal Hawk will begin stage one of a 15,000-metre drilling campaign to test targets for near-surface gold mineralisation
  • Shares have risen 42.5 per cent to 28.5 cents

Metal Hawk (MHK) has begun trading on the Australian Securities Exchange following an oversubscribed $5.5 million initial public offering (IPO).

The Western Australian minerals explorer offered shares at 20 cents each in the IPO, providing the company with an initial market capitalisation of approximately $9.5 million.

Managing Director Will Belbin thanked both new and existing investors for their support and said the company will now turn its attention to an upcoming exploration program in the goldfields.

The company has a portfolio of projects near Kalgoorlie and Norseman, including the Kanowna East and Emu Lake projects.

These two projects are currently fully-owned by Metal Hawk, however, Western Areas has the right to earn a joint venture interest in both for commodities other than gold.

Later this month, Metal Hawk will begin stage one of a 15,000-metre drilling campaign at Kanowna East and Emu Lake to test targets for near-surface gold mineralisation.

Shares have risen 42.5 per cent to 28.5 cents at 2:08 pm AEDT.

MHL by the numbers
More From The Market Online

Sierra Rutile rejects takeover bid from PRM Services again

Sierra Rutile has urged its shareholders for a second time to reject a takeover offer from…

Terra Uranium picks up prime 15M-pound deposit in Canada

Terra Uranium has bolstered its Canadian portfolio by acquiring the Amer Lake deposit in Nunavut, which…
The Market Online Video

Lithium Universe locks in shipping port location for lithium spodumene imports

Lithium Universe (ASX:LU7) has locked in a maritime port through which it can receive shipments of…

AIC raises ore reserve estimates by 86% copper and gold at QLD’s Jericho

AIC Mines has updated its ore reserve estimate at the Jericho deposit in north Queensland showing…