Mako Gold Ltd.'s IPO on the ASX was oversubscribed and raised A$6 million, which will be used to advance exploration at the company's gold projects in Ivory Coast and Burkina Faso, acquire new projects in West Africa and for general working capital.

The company's shares are expected to trade on the bourse by April 20 under the MKG ticker.

"We look forward to commencing the drilling programs at the Napié project in Côte d'Ivoire and the Tangora project in Burkina Faso immediately following listing," Mako Managing Director Peter Ledwidge said.