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IPO Wrap: Who is marking the new financial year with an ASX listing?
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- Firefinch spinout Leo Lithium has seen its share price fall since listing on 23 June
- Oceana Lithium has two lithium projects – one in Brazil and another in the NT
- With a history dating back to 1869 New Zealand’s MOVE Logistics Group plans an ASX debut in July
As we approach a new financial year, resources companies dominate the ASX debut list. Sarytogan Graphite is due to list today, while eight resource companies are gearing up for IPOs in July.
But take note that these listing dates are speculative and can change. If you want to know more contact the company direct for a better idea of when they expect to start trading on the ASX.
How are newly listed IPOs tracking?
Firstly, let’s look back at recently listed companies, who it would be fair say bravely made their ASX debut during volatile times with the ASX 200 falling ~8% in June. With the debuts mostly from the resources sector it is worth noting that the S&P/ASX 200 Resources sector also shed 8% in June.
Listed: 22 June
IPO: $8m at $0.20
OD6 holds a 100% interest in the Splinter Rock Project and Grass Patch Project which are in the Goldfields-Esperance region of WA.
The projects are considered prospective for clay rare earth elements (REEs), and the aim is delineating and defining economic resources and reserves to develop into a future revenue generating operational mine.
Clay REE deposits are presently economically extracted in China, the dominant world producer. Since listing its share price has fallen to 17 cents.
Listed: 23 June
IPO: $100m at $0.70
The Firefinch (ASX:FFX) spinoff is focused on the Goulamina lithium project in Mali, which is expected to be one of the largest hard rock lithium mines in the world once it enters production in 2024.
The project is being developed in a 50/50 joint venture with Ganfeng, the world’s largest lithium chemical producer by production capacity, providing funding, offtake and operational support to de-risk development.
Goulamina is one of the few spodumene projects globally in the execute phase with FID approved by the boards of Firefinch and Ganfeng and early stage development underway.
Plus, the project is substantially funded to production with total funding commitments of up to US$194 million. But Leo has had a rocky start to listed life with its share price falling to 54 cents since IPO.
Lucky last for June
Listing: 30 June
IPO: $8.5m at $0.20
Sarytogan Graphite is due to make its debut on the ASX today, with the exact time not specified. The explorer has its eyes on the Sarytogan Graphite Project in Central Kazakhstan which is un-substitutable in the battery market, with drilling kicking off late last month.
Kazakhstan is an established mining jurisdiction right in the middle of the largest battery manufacturers in Europe and China.
The project already has a mineral resource of 209 Mt at 28.5% total graphitic carbon (TGC) for 60 Mt contained graphite.
Companies listing in July
Listing: 1 July
IPO: $6m at $0.20
Oceana has two lithium projects – the Solonopole Project in Brazil and the Napperby project in the NT. Solonopole’s permits cover historic artisanal mining sites previously mined for lithium, Coltan (tantalum and niobium) and tin.
Napperby is in the Pine Creek Pegmatite province – which hosts Core Lithium’s (ASX:CXO) Finniss project.
MOVE Logistics Group (ASX:MOV)
Listing: 1 July
IPO: N/A
MOVE Logistics Group is one of New Zealand’s largest freight and global logistics companies with its history dating all the way back to 1869 with the original Hooker Brothers transport company.
The company offers freight transport and warehousing services throughout New Zealand and co-ordinates freight movements offshore through its international alliances.
The company also has a specialist road tanker division and is one of the largest operators in the New Zealand fuel delivery market.
Listing: 6 July
IPO: $5.5m at $0.20
The company is proposing to acquire the tenements comprising the Kookynie (Niagara) Gold Project in Western Australia from GTI Resources (ASX:GTR).
“It is exciting for the company to have secured tenements containing historical high-grade workings, identified mineralisation and high priority, walk-up targets whilst in the company of peers that are actively finding encouraging results,” chairman Robert Boston says.
The company plans to kick off maiden exploration and apply modern techniques to the “historically significant, underexplored tenement package”.
Listed: July 6
IPO: $7m at $0.20
The company has a portfolio of lithium, tin, tantalum, manganese, copper, gold and base metal exploration projects in WA and the NT.
Its assets include the Woodie Woodie North project and the Upper Coondina project in WA.
In NT, it holds the Edwards Creek project, the Box Hole project and the Bruce project.
Aeramentum Resources (ASX:AEN)
Listing: 7 July
IPO: $7m at $0.20
AEN plans to explore and develop the ‘Treasure’ (Black Pine) Project, in the Republic of Cyprus, which has numerous occurrences of high-grade nickel, copper, gold and cobalt in sulphides associated with a major transform fault. There is also evidence of past mining activity with multiple underground adits and shafts.
AEN says Cyprus was historically a major producer of copper and is well placed to supply the European electric vehicle market with copper, nickel and cobalt, along with gold.
Listing: 11 July
IPO: $5m at $0.20
The company has three gold and base metal projects in Queensland – the Northern Base Metal Project, Rookwood Project and the Southern Gold Project.
Iltani intends to build a portfolio of operating mines plus development and exploration projects with a fundamentals-driven bias to the raw materials the world needs to realise a clean energy future – with a focus on copper.
Listing: 14 July
IPO: $7m at $0.20
The company aims to be a diversified energy company producing reliable and dispatchable energy from renewables, backed by gas coal bed methane (CBM) to meet Botswana’s domestic energy requirements – as well as export energy to neighbouring countries and attract industries wanting reliable, renewable energy.
Botala’s objectives are to explore, appraise and develop the Serowe CBM Project with a view to supplying commercial quantities of CBM.
Listing: 20 July
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.
Critical Minerals Group (ASX:CMG)
Listing: 27 July
IPO: $5m at $0.20
The company holds the Lindfield vanadium project in Queensland, where it plans to complete bulk ore sample collection through its large diameter core drilling campaign, add to the existing JORC resource, and complete metallurgy and pilot plant test work and a scoping study.
CMG also holds the Figtree Creek and Lorena Surrounds, both greenfield copper-gold projects in the Cloncurry region.
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