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.
