As foreshadowed here in February, Sydney-based Finders Resources is seeking up to �2.5 million through a float Down Under.

AIM-quoted Finders, which is focusing on the Wetar copper and Ojolali gold and silver projects in Indonesia, was floated at 20p last year by Westhouse Securities and raised �375,000 in March at 25.37p.

The company, which wants to start producing gold at Ojolali next year and copper at Wetar in 2009, hoped to raise the larger sum in London, but managing director Chris Farmer found ‘London institutions like their discounts too much’.

That explains why Finders is seeking a parallel listing on the Australian Stock Exchange with a funding to raise between A$4.5 million (�1.9 million) and A$6 million (�2.5 million) at the equivalent of 22.9p, handled by RFC Corporate Finance, also the company’s nominated AIM adviser. The shares have speculative appeal.