Mineral explorers SQX commence Nanango’s newest mining project
/Source: Courier Mail
As BHP closes two central Queensland coal mines and Australia moves toward net zero emissions, a new player is banking on the possibility of gold and copper mining near Nanango.
Nanango is soon to be “reinvigorated” with gold and copper mining by SQX Resources.
As Nanango faces the phase-down effect of the federal government’s move to end reliance on coal-fired power by 2035, SQX announced the commencement of trading in its shares on the Australian Securities Exchange on Monday.
Following the successful completion of its $5 million initial public offer (IPO), funds raised will be used primarily for exploration activities on the company’s South Burnett prospects, with support from retail and institutional investors.
SQX chairman Bryan Granzien said the listing of SQX resources on the ASX was a significant milestone for both shareholders and the management team.
“We are pleased to welcome new institutional and retail shareholders to our share register in what will be an exciting and transformational period,” he said.
Scrub Paddock and Ollenburgs in Nanango will be the main focus of SQX, with drilling set to commence in the next few weeks.
