IPO Watch: Gold explorer Kingwest launches $5m ASX float

IPO Watch Angela East
asx news

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Kingwest Resources is the latest gold explorer to start down the stockmarket path.

Kingwest has launched a $5 million IPO to pave the way for a July 19 listing on the ASX.

The company is exploring for gold and base metals in the Eastern Gold Fields region near Leonora in Western Australia.

It hopes to raise the cash at 20c per share to fund drilling and exploration on the Crawford and Emperor projects and to undertake scoping studies.

The Emperor project lies just 5km south-south west of the Darlot-Centenary gold mine and processing plant owned by one of the world’s biggest gold miners, South Africa-based Gold Fields.

At the helm of Kingwest is Stephen Woodham who has over 15 years’ of experience in mining and exploration in Western Australia and New South Wales.

If the company raises the full $5 million, it will be valued at around $10.2 million post-listing.

The IPO opens May 31 and closes July 6.

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