The newest and one of the less talked about IPOs this year stormed onto the ASX at 12pm today. Newest lithium hopeful Patriot Battery Metals stormed onto the ASX today and ended the day with over 100% gain.
The Australian share market’s latest lithium share is based in North America and owns several promising battery material projects. Aiming to take Patriot Battery Metals also boasts an experienced management team. Former Pilbara Minerals Ltd Ken Brinsden is one of their more notable leaders as its non-executive chairman.
Investors who picked up IPO shares at the listing price of 60 cents would be quite happy today as the lithium explorer ended the day at $1.28 a share which represents over a massive 100% gain.
The company’s flagship asset is the 100% owned Corvette Property, located near the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec.
Management notes that the land package hosts significant lithium potential highlighted by the 2.2 km long CV5 spodumene pegmatite with notable drill. Additionally, the property has also previously found significant gold samples.
Patriot Battery Metals’ CEO, Blair Way, was obviously quite pleased with the listing, stating:
“It is great to be trading on the ASX. With the ASX listing blackout behind us I look forward to getting back to our normal news flow providing progress updates and assay results. Commencing trading on the ASX is a major milestone for the company and I appreciate the significant efforts of our team to make this happen.”