Unfortunate timing cold comfort for explorer
Richard Hemming
NSW gold explorer Drake Resources began trading on the Australian Stock Exchange yesterday but was given the cold shoulder by investors.
The company raised $3 million through an initial public offering of 15 million shares at 20 ¢ but trading in the stock opened at 19.5 ¢ before slipping 2 ¢ to 18 ¢.
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