Accelerate's fast and furious debut

ACCELERATE Resources sped onto the ASX this morning, with its shares maintaining value, and the company wasted no time announcing its plans to put teams on the ground at its Mount Read cobalt project in Tasmania immediately, with 2000m of drilling to begin next month.

Accelerate's fast and furious debut Accelerate's fast and furious debut Accelerate's fast and furious debut Accelerate's fast and furious debut Accelerate's fast and furious debut

Trading in the company opened at A21c, just above its 20c IPO level, and moved between a peak of 22c and a low of 19.5c.

In all $600,000 in stock changed hands, mostly in a fast and furious first 15 minutes of trading.

The company raised the maximum $5 million sought under the raising that was managed by Perth-based dealmakers GTT Ventures.

It said a team would start a mix of mix of surface sampling and an IP survey that will better define targets for the maiden Mt Read drilling program.

The project sits in the Cambrian-aged volcanics that are the host to most of Tasmania’s significant mineral occurrences, including some long-life mines.

Located on the Sorrell Peninsula on the island’s west coast the initial focus will be on the Thomas Creek cobalt-coppe...