IPO Watch: Moho launches $6m float; Tempus set to ring the ASX bell
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It’s another busy week for resources floats with Moho Resources eyeing a $6 million initial public offering and Tempus Resources set to light up the boards on Wednesday.
Moho Resources has released a prospectus targeting between $4.5 million and $6 million at 20c per share.
The gold, nickel and copper explorer, which has three projects in Queensland and Western Australia, is aiming to list by September 29 under the code MOH.
Meanwhile, Tempus Resources has been admitted to the “Official List” of the ASX and will begin trading at midday AEST on Wednesday.
Tempus, a base metals explorer, initially expected to be trading by the end of July following an IPO to raise $5 million.
Coolgardie Minerals, AMD Resources and Nickel Mines also missed their initial target listing dates but appear to now be making headway.
>> Scroll down for a list of upcoming ASX floats
Western Australia-focused gold explorer Coolgardie has received a conditional letter of approval from the ASX and is waiting on a new listing date, managing director Bradd Granville told Stockhead.
The company raised $4.25 million under its IPO and expects to light up the boards before the end of August.
Coolgardie owns the Bullabulling gold project, which comprises the Geko project and five other prospects.
The IPO cash will be used to fund drilling to uncover potential extensions to the Geko project and the First Find and Endeavour prospects.
Multi-commodity explorer AMD looks set to release a supplementary prospectus today and its goal is to also list before the end of August.
The company was initially aiming to hit the ASX on August 6 following the completion of an IPO to raise between $10.4 million and $20.3 million at 50c per share.
AMD’s priority is its Normanby Island gold project in Papua New Guinea and Cumberland silver and gold project in North Queensland.
The stop order has now been lifted and the company has closed its IPO and set a new target listing date of August 20.
The Sydney-based Indonesian explorer was co-founded by successful mining investor Norm Seckold, who will emerge with about 9 per cent of the shares and has taken up the role of executive deputy chairman.
Nickel Mines owns an 80 per cent interest in the Hengjaya Mineralindo nickel mine in Central Sulawesi.
About half the money raised under the IPO will be used to move to a controlling 60 per cent interest in a stainless steel plant under construction close to the Hengjaya nickel mine.
Other explorers that missed their listing deadlines are nickel and cobalt explorer Aldoro Resources, precious and base metals explorer Sultan Resources, Spain-focused gold explorer Black Dragon Gold and diamond explorer GeoCrystal.
>> Here’s a list of upcoming ASX floats:
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