Great Boulder Resources has launched an IPO to raise up to A$7 million ahead of its planned listing on the ASX, according to a Sept. 27 report by MiningNews.net.

The Western Australia-focused gold explorer owns the private gold interests of Blue Spec Drilling and Hot Chili Chairman Murray Black.

Great Boulder wholly owns the Jundee South project and has four other joint venture projects, including the Balagundi project, in which it can earn up to a 75% stake by spending A$1 million over five years.

The company recently completed scout reverse circulation drilling at Jundee South, with results expected by mid-November, and is planning to begin drilling at Balagundi in late October.

Great Boulder has set a listing date of Oct. 27.