Australia's gold explorer Gold 50 falls 14% in market debut
06/08/2021 04:14
** Shares of gold explorer Gold 50 G50.AX fall as much as
14% to A$0.215 in ASX debut
** G50 raises A$10 mln ($7.38 mln) in its IPO, at an issue
price of A$0.25 per share urn:newsml:reuters.com:*:nASXblPRmg
** ~1.8 mln shares of ASX-listed co change hands
** G50 has a portfolio of projects in Arizona and Nevada,
with four high-potential gold projects in Nevada
** Says its flagship Golconda Project in Wallapai Gold
District, Arizona, known for extensive vein systems and
unusually high precious metal grades
** Well-capitalised to progress drill targets, with drilling
planned for late 2021 at Golconda - G50
($1 = 1.3545 Australian dollars)
(Reporting by Riya Sharma in Bengaluru)
((Riya.Sharma@thomsonreuters.com;))