Orminex opens at a 66pc premium first day back on the ASX

The formerly named Mintails, which is now known as Orminex, is back trading on the ASX and has had a productive re-entry.

The prospective gold explorer (ASX:ONX) opened at a 66 per cent premium to its recent $7 million capital raising issue price of 3c per share — and traded as high as 6.8c on Monday afternoon.

By the close of trade more than 16 million shares had changed hands and the shares were trading at 5.1c.

The explorer has partnered with GBF Mining and struck a deal to buy interests in two West Australian gold projects.

Orminex plans to begin underground mining this year at the Comet Vale project in WA after GBF Mining secured a gold processing deal with Maximus Resources (ASX:MXR).