Bryah begins trading after $5m IPO

Copper-gold explorer Bryah Resources has wrapped up its first day of trading on the ASX, after completing a $5 million initial public offering.

Perth-based Bryah is led by former Horseshoe Metals executive Neil Marston and chaired by Todd River Resources director Stuart Crow.

It has entered the bourse with two copper-gold projects near Meekatharra, where it is already undertaking exploration work.

One of those is the Gabanintha project, which Bryah has acquired from Perth company Australian Vanadium in exchange for scrip, leaving the vendor with a 13.4 per cent stake in the newly listed ASX company.

Bryah was seeking to raise a maximum of $6 million in its IPO, priced at 20 cents each.

The offer closed with Bryah having raised $5 million.

At the close of trade today, Bryah shares were worth 22.5 cents each.

Argonaut acted as lead manager to Bryah on its IPO, with Steinepreis Paganin acting as solicitor.

Greenwich & Co acted as investigating accountant, while Geologica acted as independent geologist.