The flow of resources-sector offerings continued yesterday when junior explorer Rey Resources made its debut on the Australian Stock Exchange. But the company suffered the same disappointing fate as some of its counterparts, trading at a discount to its issue price on its first day as a listed company.

Shares in Rey Resources opened at par to its 20¢ issue price but spent the rest of their first trading day in the red. The stock traded as low as 15¢ before closing at 16.5¢.