Exploration company Moonlight Resources made its debut on the ASX on Thursday, marking its transition to a listed company with drilling already under way at its flagship Clermont gold project in Queensland.

The company’s shares began trading on Thursday following the completion of a A$10-million initial public offering (IPO). The IPO attracted strong participation from institutional and sophisticated investors, including shareholders of Lithium Plus Minerals and Diatreme Resources.

Moonlight has simultaneously kicked off an initial 2 000 m reverse-circulation drilling programme at the Leo Grande prospect — the most advanced target within Clermont’s 4 km mineralised trend. The confirmatory and infill campaign is designed to validate historical drill results, extend known mineralisation and fast-track the project towards a maiden Joint Ore Reserve Committee-compliant mineral resource in early 2026.

MD Greg Starr said the IPO support reflected confidence in the company’s portfolio, which totals more than 5 400 km² of gold and critical minerals tenure across Australia. “Clermont offers multiple walk-up drill targets, with consistent gold mineralisation demonstrated across a well-defined structural corridor. We look forward to updating shareholders as exploration progresses into the new year,” he said.

Clermont’s historical data includes 70 reverse circulation holes totalling more than 4 620 m drilled by previous operators. After Leo Grande, Moonlight plans follow-up drilling at the Goldfinger and Petersons targets, where structural repetition, favourable host rocks and earlier intersections warrant additional work. Assay results from the first phase are expected in the first quarter of 2026.

Diatreme, which sold Clermont to Moonlight through the divestment of Chalcophile Resources and PGE Minerals, has emerged as Moonlight’s largest shareholder with a 16.8% stake. It received A$3.25-million in Moonlight shares and A$250 000 in cash as consideration and retains the right to appoint a nominee to Moonlight’s board.