Barclay Pearce Capital was at full battle-stations on Thursday 8th July at 11am for the ASX trading debut of Locksley Resources Ltd (ASX:LKY).
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Locksley Resources Limited (ASX:LKY):
As a refresher, Barclay Pearce Capital was Lead Manager on the LKY IPO raising A$5m to allow the company to further explore its flagship Tottenham copper project located in the Cobar-Girilambone region of central NSW.
As the dust settles on day 1 of trading we can confirm that the IPO was an overwhelming success for all, especially the shareholders who supported the company through their capital investment. The first print of the stock was at $0.22, a 10% appreciation on the IPO price, and that was where it closed for the day. In between, trading was in a tight band with a low of $0.21 and a high of $0.23 throughout the day. The most interesting piece of data was the liquidity; trading volume was high at ~6m shares or 24% of the IPO shares which signals a strong buying appetite for LKY and support from the market.
The largest shareholder of LKY is ASX-listed Mincor Resources (ASX:MCR) with a 25.89% ownership and no intention to sell-down. Director of Corporate Finance at Barclay Pearce, Tim Wilson, recently commented on Mincor’s ownership:
“They’re (Mincor) actually the largest shareholder in the company, and they wanted to divest the project because they recognise it’s not their core business but they’re more than happy to be part of the Locksley journey.”
- Tim Wilson, Director of Corporate Finance
Barclay Pearce is also more than happy to continue to be part of the Locksley journey, supporting the company as it grows from an explorer to producer of Australian copper. Copper is a vital ingredient for the continued prosperity of humanity due to its versatility. Continually, Australia is blessed to have the 2nd largest reserves in the world of this essential resource. Therefore, it is critical that investors support companies like Locksley Resources to develop our strategic natural resources to enable reliable supply into the future.
Contact Barclay Pearce Capital to learn more about this exciting opportunity
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