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EHR Resources, Pure Minerals start trading on ASX

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EHR Resources, Pure Minerals start trading on ASX

EHR Resources, which used to be known as Cott Oil and Gas Ltd., has restarted trading Aug. 4 on the ASX following its transition to a Peru-focused precious metals explorer, while Eagle Nickel has been readmitted to the bourse as Pure Minerals Ltd.

EHR raised A$2.0 million as part of its relisting and has cemented a deal to earn into TSX Venture Exchange-listed Eloro Resources Ltd.'s La Victoria gold-silver project in Peru, where it is planning to undertake a staged drilling program.

Pure Minerals, meanwhile, banked A$4.5 million from its capital raising and has completed a deal to acquire the Battery Hub manganese project, an 80% interest in the Morrissey Hill lithium-tantalum project and an 80% stake in the Mount Boggola copper project, all in Western Australia.

The company is planning to immediately begin mapping, soil sampling and rock-chip sampling for lithium and tantalum at the Morrissey Hill project and mapping and surface sampling at the Mount Boggola copper project. Pure Minerals hopes to identify targets at both projects for drill testing later this year.

EHR witnessed heavy trade on its first day, with 11,411,229 shares valued at A$887,449 changing hands in 330 trades. Shares reached an intra-day high of 9.2 cents before paring back some of their gains to close the day up 14.29% at 8 cents.

Pure Minerals had more subdued trade, with 5,910,662 shares valued at A$118,212 changing hands before the closing bell. Shares closed unchanged from the capital raising price of 2 cents.