A MOVE TO FUND A GOLD MINE
A MINING company is raising funds to finance gold mining with a site earmarked in the Rockhampton region.
Traprock Mining Limited has its eyes on the region with its flagship Mount Chalmers project, with the company looking at the site as being the first gold and copper mine it establishes.
It is the third gold exploration/mining site in the region companies are actively working at - Mt Morgan gold mine and Zhong Hao mining's exploration of the Cawarral area.
Traprock has announced its Initial Public Offering (IPO) on the Australian Securities Exchange (ASX).
Targeting a December 21 listing date and with an offer closing date of December 7, the Brisbane-based explorer aims to raise up to $6.5 million through the issue of up to 32,500,000 fully paid ordinary shares at $0.20 per share.
The bulk of the funds will be used for the exploration and development of the company's portfolio.
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