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A Canadian minerals explorer newly listed on the Toronto Stock Exchange, Underworld Resources, yesterday raised $C1.75 million ($2.18 million) in an initial public offering.
Underworld has two gold projects in New Zealand, where it plans to conduct drilling programmes later this year, according to resourceinvestor.com, an investment website.
Underworld Resources has one wholly owned subsidiary - Underworld Resources (NZ) - which it registered in New Zealand on January 25, 2006 to hold its mineral property interests.
