Private Australian gold hopeful Great Boulder Resources is aiming to list on the ASX on Oct. 27.

Great Boulder earlier this year raised A$1 million in seed capital and is understood to be targeting at least A$5 million via an initial public offering of 25 million shares at 20 cents each.

The company has acquired the Balagundi project in the goldfields of Western Australia.

The tenements, which are privately owned by Murray Black — chairman of South American copper explorer Hot Chili Ltd. — are located near Northern Star Resources Ltd.'s Jundee mine and Gold Road Resources Ltd.'s Gruyere project in the Yamarna belt.