Persian Gold, which is chaired by Irish businessman John Teeling, has begun trading on London's AIM market. The company was set up to explore for gold in Iran.
Before joining the market, Persian Gold raised £1m by placing four million shares at 25p per share, valuing the company at £14m.
The company will use the funds for a sampling and drilling programme on an area in Takestan in northwestern Iran. It says it is the first independent European exploration company to begin operating in the country.
