EverGreen Lithium (ASX:EG1) has continued its dream start as a listed company after days ago floating on the Australian Securities Exchange (ASX), closing trade today more than 50% higher.
The battery metals company listed via an initial public offering (IPO) on 11 April, raising $7 million in an oversubscribed IPO.
Today’s rally on the ASX had EverGreen’s share price soar to $0.490, giving it a market capitalisation of $58.85 million.
Also, today Cadence Minerals (LSE:KDNC) emerged as a significant shareholder, registering an 8.74% stake in the newly listed company.
Today’s rally on the ASX had EverGreen’s share price soar to $0.490
On 12 April, Non-Executive Chairman Simon Lill told Mining.com.au with a significant amount of work being undertaken at its 100% owned Bynoe Lithium Project in H2 2022, it was time to list on the ASX.
Bynoe comprises a 231km-square land position and is contiguous with Core Lithium’s (ASX:CXO) producing Finniss project, providing EverGreen a useful regional exploration blueprint to try and emulate.
William Buck Audit was investigating accountant for the IPO, while Taylor Collison was lead manager, and Steinepreis Paganin served as legal advisor.
EverGreen wholly owns 3 ‘highly prospective’ lithium spodumene projects in Australia – the Bynoe, Kenny, and Fortune projects are located in areas of known lithium pegmatite occurrences within the Northern Territory and Western Australia.
Write to Adam Orlando at Mining.com.au
Images: iStock
