Copper and gold explorer South-East Queensland Exploration Limited is passing around the hat for its $5 million initial public offering.
The company, which will be renamed to SQX Resources, has two tenements 130kms from Brisbane in the Esk Basin.
Both prospects, Scrub Paddock and Ollenburgs, have historical mine workings, known gold and copper mineralisation and close to infrastructure, the term sheet said. SQX is led by Mark Purcell, a mining engineer who worked at Rio Tinto and Peabody Energy in operational roles for a decade, before switching to investment banking.
The business was asking investors to tip in 20¢ a share for $5 million total, and an expected $6.25 million market capitalisation. It said it would drill Scrub Paddock immediately after listing and keep an eye out for future projects or acquisitions.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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