The company had sought a modest $4.5-4.8 million at 20c via raising with lead manager Taylor Collison, and managed to receive strong support, and ended up being oversubscribed despite a crowded IPO field, including not a small number of rivals with copper-gold targets as well.

 

Cooper managing director Ian Warland said the company had a number of advanced targets to chase, although it would be a few weeks before it could announce specific plans over its flagship 1300sq.km Mt Isa East project in Queensland

 

The 85%-owned project was secured from Revolution Mining and contains a number of ‘camp-scale' targets with potential for iron-oxide copper-gold deposits linked to major structural features.

 

Its general exploration strategy is largely to start with big regional surveys to narrow down targets that have been overlooked due to a fractured ownership history.

 

In Western Australia Cooper has two projects: Yamarna, located down the road from Gold Road Resources and Gold Fields' multimillion-ounce Gruyere gold deposit; and the Gooroo gold project, near Yalgoo in the Murchison.

 

Yamarna covers parts of the Yamarna and Dorothy Hills greenstone belts, where the targets are structurally controlled primary orogenic gold mineralisation, while at Gooroo Cooper sees potential for orogenic gold and VMS base metal mineralisation, similar to the Golden Grove operation, just 50km away.

 

The company was founded by Warland and his Twenty Seven Co compadre Tim Armstrong, who run it along with accountant and geologist Michael Frayne

 

Warland and Revolution own 5% of the new explorer as a result of vending in Gooroo and Mt Isa East respectively. 

 

Cooper shares traded between 19.5c and 25c during the session, before closing up 7.5% at 21.5c after 3.6 million shares were traded.