Graphite miner Valence Industries Limited
(ASX:VXL) has made a steady entrance to the Australian share market.
The stock opened at 20 cents, hit a high of 22 cents and then closed at 20 cents, with more than 1.5 million shares traded on its first day.
According to media reports, Valence plans to start production at its Uley Mine in South Australia during the first quarter of the year.
About 50 people will be employed to bring the mining and manufacturing facilities back online, reports say.
Graphite production at Uley has been in intermittent operation since the late 1800s.
