Gold hopeful Carnaby Resources has decided a better way for it to get to the ASX is by teaming up with an already listed explorer that needed good projects.

Carnaby, led by former Beadell Resources executives Peter Bowler and Robert Watkins, was looking to list on the ASX in its own right after last year reaching separate deals with Diatreme Resources (ASX:DRX) and Syndicated Metals (ASX:SMD) to buy their gold projects.

But now it is going down the reverse takeover route, which is probably a better option given the mixed reactions recent resources floats have been fronted with on debut this year.

So far just two resources IPOs have made it.

You can read all about what happened with recent debutantes Canterbury Resources (ASX:CBY) here and African Gold (A1G) here.

Carnaby now plans to tie the knot with Berkut Minerals (ASX:BMT), which will be the listed shell picking up the Tick Hill gold project in northwest Queensland from Diatreme and its partner Superior Resources (ASX:SPQ).

Berkut, which will change its name to Carnaby Resources, will also take ownership of Syndicated Metals’ (ASX:SMD) 82.5 per cent stake in the Southern Hub copper and gold tenements in north Queensland.

Diatreme chief Neil McIntyre told Stockhead the reverse takeover was a much better option for Carnaby, and Diatreme came out of it with a much simpler deal.

“It was a more direct route rather than going the IPO route. It was much faster and more efficient to use an existing listed entity,” he said.

“It’s a much cleaner and neater way for us to do it. You get listed stock straight away, although we have agreed to a 12-month escrow period.”

The deal is expected to give Diatreme a stake in Berkut of more than 5 per cent, making it a substantial shareholder and allowing it to retain its exposure to the Tick Hill mine – which was one of Australia’s highest grade and most profitable mines.

Syndicated would also have around a 5 per cent interest in Berkut.

Here’s a list of upcoming floats:

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Company ASX code IPO status Focus Fund raising Issue price
AltoStratos ATO Listing extended to April 30 Supply chain delivery technology $16-$25m 40c
Australian Industrial Minerals AAM Offer opens Feb 18; Due to list Mar 28 Industrial minerals $5m 25c
Australian Nutrition & Sports AN1 Offer opened Feb 15; Due to list Apr 3 Dairy formula $5-$8m 20c
AXS Group AXS Listing date extended to Mar 15 Software provider to the finance, insurance and funds sector $7m 25c
Carnaby Resources - Prospectus not yet issued; Considering listing in 2019 Gold - -
Ecofibre EOF Offer opens Feb 18; Due to list Mar 29 Hemp products $15-$20m $1
Expose Resources EXX Listing date extended to April 10 Gold $4.5m 20c
Frugl Pre-IPO funding; planning listing Grocery price comparison - -
irexchange IRX Withdrawn Retail tech $17.5m 90c
IXT IXT Was due to list Dec 21 Services and software $7m 20c
Jobstore Group JOB Was due to list Dec 5 AI-powered recruitment $6.6-8m 20c
Koligo Therapeutics KOL Offer opens Feb 18; Due to list Mar 29 Regenerative medicine $6-$7m 20c
Next Science NXS Offer opens Mar 15; Due to list April 29 Bacteria treatments $35m $1
Ricegrowers SGL Listing slated for early April Manufacturing of rice products No cash being raised -
Rolek Resources RLK Backdoor listing via Shaw River (ASX:SRR); Listing expected by April Manganese $5m 2c
Trigg Mining TMG Postponed until 2019 Potash -
XS Resources XS1 Listing extended to Mar 4 Precious, base metals $4.5m 20c

High-tech recruitment platform Jobstore has been trying to get itself listed since launching its $8m IPO in September last year.

Unfortunately, it’s hit a few road bumps along the way – a major one being it was only able to raise $100,000 of the minimum $6.6m it was targeting, as reported by Stockhead back in mid-November.

Jobstore isn’t giving up though, extending its offer to March 15 and pushing its planned listing date out to April 5.

Stockhead has contacted Jobstore to find out if it’s managed to get any more cash.

Also in the queue to list is fintech AXS Group, which had to cut the size of its initial public offering in half and again push out its date for listing.

The company said in the latter part of February that it still hadn’t raised the new minimum of $3m it was hoping to but pencilled in a new expected listing date of March 15.

Here’s a list of IPO performances over the past year:

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Listing Date ASX Code Company IPO Price Intra-day Price Mar 12 Percentage Change
01/29/2019 SPT Splitit Payments 0.2 1.675 7.375
10/15/2018 SMX Security Matters 0.2 0.635 2.175
12/28/2018 AMS Atomos 0.41 1.055 1.57317073171
12/18/2018 EX1 Exopharm 0.2 0.475 1.375
07/18/2018 KTD Keytone Dairy Corp 0.2 0.385 0.925
09/21/2018 AGH Althea Group Holdings 0.2 0.345 0.725
05/25/2018 CPV Clearvue Technologies 0.2 0.305 0.525
12/12/2018 HMD HeraMED 0.2 0.305 0.525
12/13/2018 EMV EMvision Medical Devices 0.25 0.38 0.52
07/20/2018 CXL Calix 0.53 0.805 0.518867924528
05/29/2018 PYG PayGroup 0.5 0.72 0.44
12/13/2018 TYM Tymlez Group 0.22 0.27 0.227272727273
05/16/2018 S66 Star Combo Pharma 0.5 0.61 0.22
02/14/2019 A1G African Gold 0.2 0.24 0.2
07/30/2018 CR1 Constellation Resources 0.2 0.235 0.175
08/15/2018 TMR Tempus Resources 0.2 0.235 0.175
08/20/2018 NIC Nickel Mines 0.35 0.4 0.142857142857
11/14/2018 HM1 Hearts and Minds Investments 2.5 2.84 0.136
03/07/2019 CBY Canterbury Resources 0.3 0.34 0.133333333333
02/22/2019 MPH Mediland Pharm 0.2 0.225 0.125
12/14/2018 YRL Yandal Resources 0.2 0.22 0.1
07/09/2018 PGX Primero Group 0.4 0.41 0.025
07/13/2018 VEA Viva Energy Group 2.5 2.535 0.014
05/30/2018 KRX Koppar Resources 0.2 0.2 0
09/11/2018 HLA Healthia 1 0.99 -0.01
11/29/2018 NWM Norwest Minerals 0.2 0.19 -0.05
11/30/2018 RDC Redcape Hotel Group 1.13 1.0375 -0.0818584070796
05/29/2018 GAL Galileo Mining 0.2 0.18 -0.1
07/06/2018 WOA Wide Open Agriculture 0.2 0.18 -0.1
12/05/2018 CRS Caprice Resources 0.2 0.18 -0.1
07/05/2018 RMY RMA Global 0.25 0.22 -0.12
06/22/2018 WGB WAM Global 2.2 1.92 -0.127272727273
09/12/2018 14D 1414 Degrees 0.35 0.305 -0.128571428571
04/18/2018 JMS Jupiter Mines 0.4 0.34 -0.15
07/27/2018 NSB NeuroScientific Biopharmaceuticals 0.2 0.17 -0.15
08/24/2018 KWR Kingwest Resources 0.2 0.165 -0.175
09/17/2018 VEN Vintage Energy 0.2 0.165 -0.175
02/19/2019 CLB Candy Club Holdings 0.2 0.16 -0.2
11/07/2018 MOH Moho Resources 0.2 0.155 -0.225
10/31/2018 WWG Wiseway Group 0.5 0.375 -0.25
10/23/2018 CRN Coronado Global Resources 4 2.98 -0.255
09/13/2018 ARN Aldoro Resources 0.2 0.145 -0.275
10/02/2018 SGI Stealth Global Holdings 0.2 0.14 -0.3
02/13/2019 UWL Uniti Wireless 0.25 0.17 -0.32
03/16/2018 EM2 Eagle Mountain Mining 0.2 0.13 -0.35
05/14/2018 ED1 Evans Dixon 2.5 1.58 -0.368
04/16/2018 MKG Mako Gold 0.2 0.125 -0.375
10/19/2018 QEM QEM 0.2 0.11 -0.45
10/17/2018 ID8 Identitii 0.75 0.4 -0.466666666667
06/13/2018 VN8 Vonex 0.2 0.105 -0.475
09/21/2018 AR9 Archtis 0.2 0.105 -0.475
04/30/2018 MAM Microequities Asset Management 0.8 0.405 -0.49375
11/08/2018 GSM Golden State Mining 0.2 0.1 -0.5
12/20/2018 FIJ Fiji Kava 0.2 0.1 -0.5
11/30/2018 NVU Nanoveu 0.2 0.094 -0.53
04/11/2018 DXN Data Exchange Network /The 0.2 0.085 -0.575
07/26/2018 RFR Rafaella Resources 0.2 0.08 -0.6
06/21/2018 RZI Raiz Invest 1.8 0.685 -0.619444444444
08/16/2018 SLZ Sultan Resources 0.2 0.07 -0.65
08/30/2018 CM1 Coolgardie Minerals 0.2 0.052 -0.74
06/19/2018 B2Y Bounty Mining 0.35 0.07 -0.8
04/27/2018 SIL Smiles Inclusive 1 0.17 -0.83

Meanwhile, newly-listed payments provider Splitit (ASX:SPT) still retains its spot as the top performing IPO over the past year.

Since it listed in late January, it has surged nearly 740 per cent to trade around $1.68.

On Monday Splitit received a query from the ASX as to why its share price leapt to nearly $2 from 93.5c a week earlier.

The company said there were no announcements yet to drop that could’ve explained the sudden spike, but added that perhaps it was because of several recent news articles explaining the company’s business model.

“The publication of these articles may explain the recent increase in share price and trading volumes,” Splitit said.

Canterbury Resources has managed to cure its first-day blues and gain 13.3 per cent to trade at 34c.

It wasn’t a warm welcome for the copper and gold junior last week when it lit up the boards, with shares opening 10 per cent lower than the 30c issue price before falling further to close its first day out at 26.5c.

At the other end of the scale, Smiles Inclusive (ASX:SIL) has continued its downward spiral after recently revealing it would now be likely booking a $1m loss instead of a $2.3m profit for FY19.

The dental practice operator has watched its share price tumble 83 per cent since it listed in late April last year to 17c.