Greatland Resources shares soar on ASX debut

The news: Greatland Resources saw its shares rocket on Tuesday after the London-listed gold and copper miner floated on the ASX.

The numbers: Greatland shares were up 13% to $7.46 at 2:50pm AEST, having started trading at $6.60 at 1pm.

The context: Greatland — which operates the Telfer and Havieron gold-copper mines in Western Australia — raised $490 million through the offer.

As part of the move, Greatland Resources will replace Greatland Gold as the parent company of the group and be listed on both ASX in Sydney and London's Alternative Investment Market, a submarket of the London Stock Exchange.