When the gold price is expected to soar due to high inflation alerts a Canadian gold mining company Austin Gold has decided to go public by selling 3,265,000 shares at a $4 price. Four days ago it should have been listed on NYSE under the ticker symbol AUST but even today we can’t see it live in the stock market.
Currently, the company is planning to spend the raised funds to explore properties and for equipment maintenance. Hopefully, Austin will successfully be listed on NYSE by allocating the funds from proceeds into strategic segments while gold mining needs a lot of money. A couple of centuries ago it was easy to mine precious metals but today equipment could cost way more than a tonne of gold.