Tietto Minerals Ltd (ASX:TIE) has successfully completed its initial public offering (IPO) after shares changed hands on the ASX today for the first time.
The IPO raised $6 million through the issues of 30 million shares priced at $0.20.
Positively, shares hit an intra-day high of $0.31, representing a premium to the listing price of over 50%.
West African gold developer
Tietto is developing gold projects in Côte d’Ivoire and Liberia in West Africa, with a focus on the Abujar Project in Cote d’Ivoire.
Significantly, Abujar has a maiden JORC compliant resource estimate of 10.4 million tonnes at 2.1 g/t gold for 703,600 ounces gold.
This resource was defined in less than two years after Tietto’s acquisition of its Abujar project interests with only 12,171 metres of drilling.
Immediate objectives for 2018
Tietto’s immediate objectives in 2018 are to:
• Expand the JORC resource estimate at Abujar through both deeper drilling and drilling along strike;
• Commence intensive exploration within more than 70 kilometres of additional new strike‐length targets at Abujar; and
• Exploration on its other projects, particularly its Dube South and Cestos Projects in Liberia.