Newfield Resources makes winning ASX start

Perth-based exploration firm Newfield Resources made a successful debut on the Australian Securities Exchange today, with its shares finishing their first day of trading up 2.5 cents.

Newfield, which is a gold explorer with assets in the Yilgarn region and also near Kalgoorlie, finished trade today at 22.5 cents, up from its issue price of 20 cents.

The company raised $2.3 million through its initial public offering to become the 42^nd ASX listing in Perth and the 95^th Australia-wide this financial year.

Newfield said it would seek to explore and appraise its flagship namesake project, near Southern Cross and assess possible acquisition opportunities with the funds raised from the IPO.