Photo by: Bloombeg
PERTH (miningweekly.com) – The recently demerged S2 Resources on Monday made its debut on the ASX, with shares opening at 22c each.
The company was established following the September merger of diversified miner Independence Group and Sirius Resources, which also saw Sirius shareholders approve the demerger of the Polar Bear and Scandinavian exploration assets.
With some A$22-million cash at hand, S2 was well placed to pursue its objective of delivering investment returns through the discovery and development of mineral resources which resulted from exploration, the company said in its quarterly results statement for the three months to September.
Exploration at the Baloo gold deposit, within the Polar Bear project in Western Australia, had already started, as had initial reconnaissance work on the properties in Finland and Sweden.