Discovery Resources is yet to trade on the ASX by 3pm AEDT in the company's first couple of hours of public life with the bid and offer yet to marry and sitting either side of the USD 0.20 IPO entry price.

Discovery Resources is definitely one of the more interesting IPO's to be minted in 2011 with the company targeting rare earth elements in Namibia after a successful IPO which offered up to 12.5 million shares to raise USD 2.5 million.

In April this year the company acquired Solarwind Investments Private Limited a Namibian based company which wholly owns five prospecting licences for the exploration of rare earths elements in the country. Where the story gets very interesting for the company is the sheer size of the tenements which together cover over 290,000 square kilometers.

Discovery Resources will kick off exploration work programs on its existing projects while continuing to evaluate additional exploration and other projects both within the country with the possibility of additional commodities to supplement rare earth elements.

(Sourced from www.proactiveinvestors.com.au)