Pic: Aaron Foster/DigitalVision via Getty Images
IPO Watch
Listing: December 19
IPO: $8m at $0.20
Not related to the band, ACDC Metals has entered into binding agreements to acquire interests in the Goschen Central, Douglas and Watchem projects on the edge of Victoria’s Murray Basin.
All are considered prospective for heavy mineral sands, rare earth elements and other materials.
The potential point of difference is ACDC has entered into a licensing agreement with major shareholder TSXV-listed Medallion Resources to use its proprietary monazite processing technology to extract rare earths from monazite.
That is the style on mineralisation that will initially be processed by Iluka Resources (ASX:ILU) at its Eneabba refinery.
Listing: December 16
IPO: $12m at $0.20
For those who like to invest based on the people, Desoto Resources is an interesting proposition given the involvement of executive chairman Paul Roberts.
As founder and CEO of prospect generator Predictive Discovery (ASX:PDI) from 2007 to 2021, Roberts closed his stint with the discovery of the world class 4.2Moz Bankan gold project in Guinea.
He and non-executive director Barry Murphy are aiming to recapture the success they have converting their senior role experience at the Predictive Mineral Discovery Cooperative Research Centre into success in the real world with PDI.
Former PDI corporate development officer and BPM Minerals (ASX:BPM) CEO Chris Swallow is also on board as managing director.
Desoto is turning those talents to the 345km2 Fenix lithium and gold project in the Pine Creek pegmatite field — down the road from Core Lithium’s (ASX:CXO) 110,000tpa spodumene mine Finniss — which boasts historic holes that have intersected pegmatite and +800ppb gold soil samples.
The explorer also owns the Fenton gold project, which sits in the 17Moz Pine Creek field near the Cosmo Howley deposit, with wide gold hits from limited drilling of 55m at 0.88g/t gold from 418m including 20m at 1.74g/t gold from 423m.
Listing: December 20
IPO: $7m at $0.20
As if two Greentechs weren’t enough here’s a third to really get your cognitive juices flowing.
Back in 2021 doddering nickel explorer GME Resources (ASX:GME) went haywire as investors absorbed by the Gamestop short squeeze drove the company higher because it had the same ticker code as the New York-listed meme stock. Get ready for some more of those extraordinarily fun days.
We already have a GreenTech Metals (ASX:GRE) exploring for copper, zinc and metal up in the Pilbara.
Then there’s Canadian lithium play Green Technology Metals (ASX:GT1), up 146% over the past 12 months as investors ride exploration success at its Seymour Lithium project in Ontario, Canada.
This one, Greentech Minerals, is planning to develop high purity quartz deposits from veins identified near Mt Isa in central Queensland.
High purity quartz is a vital ingredient in the solar panel, semiconductor and other high tech industry sectors.
GTM (codes will be your friend here) has secured a preliminary offtake agreement to supply a minimum of 5000 tonnes of HPQ feedstock per annum to Jiangsu Yangshan Silicon Materials Technology Co Ltd in China and plans to be up and running within 12-18 months.
But its longer term ambition is to build a beneficiation and refinement plant in northern Queensland to grab a share in the highest value parts of the HPQ market.
Listing: December 16
IPO: $10m at $0.30
Raising $10m, Mackerel is a spin-out from Zenith Minerals (ASX:ZNC), which includes its prized 25% share of the Earaheedy lead-zinc discovery in WA primarily owned by Rumble Resources (ASX:RTR).
Other gold and base metal prospects including the gold tenements at Split Rocks, Red Mountain and Cowarra with the base metal assets of Develin Creek (copper/zinc), will be transferred to the Mackerel portfolio as its parent company becomes, like many others, increasingly enamoured with lithium.
Zenith is up 26% year to date, largely on lithium discoveries in pegmatites at the Split Rocks project in WA.
Previously regarded as taboo in the UK due to an old wives’ tale that they fed on the corpses of dead soldiers, mackerel are now a common delicacy known for their punctuality during the migration, an attribute we can only hope will be transferred to its exploration namesake.
Listing: December 9
IPO: $6m at $0.20
A spin-out from Argonaut Resources (ASX:ARE), Orpheus is planning to explore for and discover greenfield uranium deposits in South Australia and the NT.
They have four projects in the NT – Woolner, Ranger North-East, Mt Douglas and T-bone – and two projects in SA – Frome and Cummins.
The decision to explore those jurisdictions is notable because they have hosted uranium mines and boast State and Federal regulatory systems that are supportive of the development of new uranium mines.
CEO Simon Mitchell told Stockhead at the IMARC conference in Sydney last month a recent run in uranium spot prices was ‘only the start’ thanks to a dearth of exploration since the early 1990s decades.
Listing: December 19
IPO: $8m at $0.20
We’ve all heard of the Lithium Triangle, the famous salars in Argentina and Chile where brines deliver around 40% of the world’s lithium materials.
Patagonia is coming to market with a slew of projects covering 23km2 across the Salta and Jujuy Provinces of Argentina, in close proximity to established producers and developers like Ganfeng, Allkem (ASX:AKE), Lake Resources (ASX:LKE), Power Minerals (ASX:PNN) and Lithium Energy (ASX:LEL).
Patagonia was due to exercise its option by yesterday on the Tomas III project, having exercised options to acquire Formentera and Cilon in April and October respectively.
The company plans to undertake follow-up exploration on the sites, with funds raised to pay vendor costs, provide working capital and IPO expenses, and cover around $1.725m of exploration expenditure including drilling at Tomas III.
Listing: December 5
IPO: $10m at $0.20
As our intrepid deputy editor Reubs is fond of reminding us, Patriot’s Etta mine once hosted spodumene crystal as long as 14m, dwarfing the mine workers who used to dig lithium at the South Dakota pegmatite mine between 1898 and 1960.
Patriot, chaired by former Tianqi Australia boss Phil Thick and led by experienced mining exec Matt Gauci, boasts three US hard rock lithium projects; Keystone (South Dakota) and Tinton West (South Dakota/Wyoming) in the Black Hills district, and Wickenburg in Arizona.
Thick says the US thematic is ‘very important’ with Patriot progressing plans to get drilling approval over the coming months.
“We will do whatever we can on the ground right from day one, like mapping and sampling, as we put in our applications for permits to drill,” he told Stockhead.
“In South Dakota that is a process that could be six to 12 months; it could be less, but we are being conservative there.
“Maybe in our Arizona project we will get to drilling earlier than that, but there is a lot of work for us to do in that first 6-12 months.”
Listing: December 7
IPO: $4.2m at $0.60
Ironically slated to list just two days after its namesake, the Ken Brinsden chaired PMT has already made its mark on the Canadian stock exchange.
But Brinsden thinks the best lithium investors are in Oz, where he hopes to garner support to develop a new spodumene hotspot in Quebec, Canada, perfectly placed to service the undersupplied North American battery supply chain.
It plans to have a maiden resource out early next year for the Corvette discovery in Canada’s James Bay region, a find that is already generating nearology plays.
Listing: December 7
IPO: $35m at $0.40
Formerly part of gold explorer Horizon Minerals (ASX:HRZ), Richmond Vanadium wants to bring its project of the same name to market with plans to start a BFS after listing.
The largest non-titanomagnetite vanadium deposit of its kind in the world, the company says it can produce a significant supply of vanadium for the steel and emerging energy storage markets over a 25-year initial life of mine.
Located 500km west of Townsville and 400km east of Mt Isa between the towns of Julia Creek and Richmond, the 1.8Bt deposit is located near the proposed Copper String 2.0 high voltage network line and Great Northern rail line to the Townsville Port.
It could also be the beneficiary of a commitment from the Queensland Government to lob at least $10m towards constructing a common user facility to process vanadium from the State’s deposits and kickstart a local battery storage industry.
Listing: December 2
IPO: $10m at $0.20
Taiton’s projects include the Lake Barlee gold project in WA, the Highway polymetallic project in SA, and the Challenger West gold project also in SA.
The company believes its dominant land holding at the Highway Project will allow them to potentially uncover the Next Elephant Deposit in Australia.
Taiton will be undergoing a series of grassroots exploration and also several walk-up drilling targets.
Listing: December 6
IPO: $8m at $0.20
Tiger Tasman Minerals has projects in WA and QLD focused on copper, lithium, nickel, manganese, silver, gold, base metals and industrial minerals (DMM) essential to the global clean energy transition, decarbonisation and a more sustainable future.
The projects are in proven and prospective jurisdictions including Paterson Province, Fraser Range, Earaheedy Basin, Ashburton and the Townsville region.
They are the Iron Skarn silver-copper-lead-zinc project (QLD), the Copper Canyon copper-gold project (WA), the Fraser Range lithium-nickel-copper project (WA), the Mt Minnie manganese project (WA), and the Crater copper-zinc-lead-silver-gold project (WA).
Listing: December 1, 11am
IPO:N/A
NZ campervan rental mob Tourism Holdings will list in Oz after completing its deal to acquire ASX-listed Apollo Tourism & Leisure.
Ahead of the merger Apollo was forecasting a record $20m in NPAT in FY23 amid a post-Covid recovery for travel and tourism stocks.
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