SQX Resources (ASX:SQX) commences trading on ASX

SQX Resources (ASX:SQX) has successfully completed an Initial Public Offering (IPO) on the Australian Securities Exchange (ASX), raising $5M at $0.20 per share.

SQX Resources says the funds raised will primarily be used for exploration activities at the its Scrub Paddock prospect, a gold-copper porphyry located in the Esk Basin in southeast Queensland.

It also says it's now fully funded to undertake a planned 2,500m RC and diamond drill program, and pre-drilling earthworks are expected to commence in late February/early March 2023, with assay results expected in the second quarter of 2023.

SQX Resources says additionally, soil sampling will be undertaken at the Ollenburgs Prospect, a potential copper-gold porphyry.