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Stavely shares 'to create value'

The long-awaited comeback of former Integra Mining boss Chris Cairns was launched on Tuesday with the $6 million initial public offering of Stavely Minerals.

The new float is 14 months after Mr Cairns oversaw the completion of Silver Lake Resour-ces’ $426 million takeover of Integra, which packaged its Randalls operations south-east of Kalgoorlie-Boulder.

Stavely’s executive team includes another former Integra director, Peter Ironside, with the focus on two copper projects in Victoria. The IPO is seeking to raise $6 million through the issue of up to 30 million shares at an issue price of 20 cents.