Lucknow Gold Limited Still Planning To List On The ASX

Lucknow Gold Ltd has extended its Initial Public Offer until 31 October this year.  This is no great surprise give the turmoil currently being experienced in Australian equity markets.  I believe the company was originally planning on listing on 26 September.

Lucknow is seeking $7.5 million at 20 cents per share.  The company is expected to trade under the ASX code of LUK.

As the name would suggest, LUK will be looking for gold in the Lucknow and Yambulla Goldfields in New South Wales.  The company owns two exploration licences in what it says is the “highly mineralised Lachlan Fold Belt”.  Apparently the region dates back to 1977 in providing success to gold explorers.

Visit the Lucknow Gold website for details.

CommSec is the Manager of the Lucknow Gold Limited share offer.

Base Iron Limited Float

Base Iron Ltd has closed it’s Initial Public Offer as of 17 September.  It says it’s reached its target subscription of $4 million through the issue of 20 million shares at 20 cents each.  This is a pretty good effort given Australian stock market conditions in recent times.

The company is another iron-ore explorer with its sights set on Western Australia.  However, the company has 6 tenements, some of which it says are nearing production.

Base Iron is expected to list on 3 October under the ASX code of BSE.