(MENAFN - ProactiveInvestors - Australia) Boadicea Resources (ASX: BOA) is the pick of the recent IPO crop and last changed hands at 0.60, three times the 0.20 IPO price.
Boadicea hit the ASX boards close to two months ago, and has traded as high as 0.70 - driven by the company's strategic location in Western Australia's Albany Fraser belt.
The highly prospective belt hosts AngloGold Ashanti (ASX: AGG) and Independence Group's (ASX: IGO) Tropicana Gold Project - which continues to grow in size and stature - with a 1.48 million ounce upgrade announced earlier in the week to 7.89 million gold ounces.
Not to be forgotten is Sirius Resources' (ASX: SIR) recent Nova nickel copper discovery, which has driven the company's share price over 40 times higher in less than six months.
Boadicea's exposure in the Albany Fraser is at Symons Hill - which has a defined gold in soil anomaly, which was identified from sampling.
About a fortnight ago Boadicea finished compiling and interpreting historic regionally extensive geochemical sampling programs completed by other companies in the Fraser Range Mobile Belt.
A number of these programs were conducted in the vicinity of Boadicea's exploration licence (E28/1932) and datasets obtained from WAMEX and the Geological Survey of Western Australia have been obtained and incorporated into a GIS database for interrogation and interpretation.
Boadicea's project is positioned within the Proterozoic AlbanyFraser Orogenic Belt (Collision Zone) east of the Yilgarn Craton, with the area also the home to Sirius' Nova.
Boadicea's additional portfolio
Boadicea also has interests including the Lake Austin Project located to the west of the township of Cue in Western Australia, just east of the Big Bell Shear which hosts the Big Bell gold deposit.
Another is the Calypso Project which is located 22 kilometres east of Leonora in Western Australia, with the main target the supergene gold mineralisation encountered by a previous exploration major.
Finally there is the Murrin Murrin Project - located around 50 kilometres east of Leonora.