Xanadu Mines in Sold ASX Debut
Mongolia-focused coal, copper and gold explorer Xanadu Mines Ltd has made a positive debut on the Australian Securities Exchange. Shares in Xanadu were up 2.5 cents, or 4.17 per cent, at 62.5 cents at 1453 AEDT after reaching a high of 72 cents in earlier trade. Its initial public offer (IPO) was significantly oversubscribed and raised $24 million through the issue of 40 million shares at 60 cents a share.
The company's share register includes Queensland-based resources investment firm Talbot Group Holdings and Straits Asia Resources, a Singapore-listed coal miner.
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