IPO Wrap: Five explorers and a glass company are lining up to list this month

Iluka spin-off Sierra Rutile is trading down 22.79% since listing last week
Rare earths, lithium and antimony player Summit Minerals is set to list this week
Chalkos Metals plans an aggressive exploration program at its Copper projects

One resources company listed last week, with five more miners and a glass production company gearing up for IPOs in August.

But please note that these listing dates are extremely speculative.

If you’re interested, contact the company direct for a better idea of when they expect to start trading on the ASX.

How are newly listed IPOs tracking?

Sierra Rutile Holdings (ASX:SRX)

Listed: 27 July

The Iluka Resources (ASX:ILU) spin-off listed last week with a multi-mine mineral sands operation straddling the Bonthe and Moyamba districts in southern Sierra Leone.

Natural rutile pricing has exploded, with Sierra Rutile collecting US$1195/t in Q1 2021 and US$1459/t in March this year, with margins at a very healthy US$562/t.

And the company’s 13-year Sembehun development is one of the few new rutile deposits that could be developed globally in the coming years.

Here’s Josh Chiat’s rundown on all you need to know about why this could be a smokie.

Since listing its share price has dropped 22.79% from $0.43 to $0.332.

These companies are listing in early August:

Summit Minerals (ASX:SUM)

Listing: 5 August

IPO: $5.5m at $0.20

This explorer has a bunch of rare earth, lithium and antimony projects in its portfolio, including the Stallion REE project, the Phillips River lithium project and the Gascoyne REE and lithium projects in WA and the Windfall Antimony project in NSW.

The company also has under application the Bridgetown lithium project – which is just 7km along strike from Talison’s Greenbushes lithium operations.

Chalkos Metals (ASX:CKM)

Listing: 10 August

IPO: $8m at $0.20

The copper explorer has tenements in the prospective North West minerals province of QLD – adjacent to the world-class Mt Isa mines.

The company is embarking on an aggressive drill program with target testing underway.

Bayrock Resources (ASX:BAY)

Listing: 11 August

IPO: $12m at $0.20

This nickel explorer is aiming to turn prospective nickel, cobalt and copper projects in Sweden into mines to satisfy demand from the electric vehicle and energy storage industries.

Bayrock’s Lainejaur deposit hosts 460,000t of ore within an area that equates only one per cent of the total licensed area the company holds, and contains 2.2% nickel, 0.7% copper and 0.15% cobalt along with 0.68g/t palladium, 0.2g/t platinum and 0.65g/t gold.

The company also has nickel targets across its 340.7sqkm of tenure known as the Northern Nickel Line – a collection of five projects called Vuostok, Nottrask, Skogstrask, Fiskeltrask and Kukasjarvi.

Australia Sunny Glass Group (ASX:AG1)

Listing: 12 August

IPO: $7.5m at $0.35

This Australian-based holding company, through its subsidiaries, operates a glass production and supply business for structural building facades.

The group has a fully automated processing plant which it says is highly-efficient, accurate and scalable and an R&D focus on the development of cyclone resistant glass using new laminating and bonding techniques.

Heavy Rare Earths (ASX:HRE)

Listing: 17 August

IPO: $6m at $0.20

This company holds the Cowalinya clay-hosted rare earths project in the WA and two exploration licences in the NT which form the Duke project.

At Cowalinya, a JORC inferred mineral resource of 28 million tonnes at 625ppm TREO has been declared, with 25% being valuable magnet rare earths.