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Bryah Resources gains on ASX debut

Australian copper-gold explorer Bryah Resources Ltd. has marked its first day as a publicly listed company with gains of up to 25%.

The newly minted company traded as high as 25 Australian cents not long after it lit up the boards of the ASX Oct. 17.

By the closing bell, 532,416 shares valued at A$123,740 had changed hands in 40 trades. Bryah pared back some of its gains, but still closed up 12.5% at 22.5 cents.

Bryah raised A$5.0 million in its recent IPO, which will be used to fund exploration of the Bryah Basin and Gabanintha projects in Western Australia.