Triton Gold commenced trading on the Australian Stock Exchange (ASX) on Friday, following its $6.5 million oversubscribed Initial Public Offer.
The company issued 32,482,500 shares each worth 20 cents.
After receiving considerable interest in its initial $5 million offer, the board decided to accept a further $1.5 million from the oversubscriptions, the company said in a statement.
Triton managing director Marcus Willson said the time was right for the company to move into the next phase of growth.
“Over the past three years, the company has developed a well-balanced portfolio of projects,” he said.
“We have an aggressive drilling campaign planned in the short-term and we look forward to delivering results and driving additional value for our shareholders.”
The company recently completed drilling at its Sunday tenure and will commence exploration at Fraser Range North shortly.
Triton will also shortly commence a priority scoping study of the Windarra Tailings asset.