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IPO Watch
It’s like an advent calendar for mining and exploration IPOs.
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.
Focus: Gold, Copper and Nickel
Tentative Listing Date: 1 Dec
The RareX (ASX:REE) spinoff wants to raise $5m through its IPO. It has two projects: ‘Byro East’ (nickel-copper-PGEs) in WA and ‘Orange East’ (gold) in NSW.
Byro East was pegged by $45m market cap rare earths explorer RareX last year. It is very greenfields — having never been drilled — but Cosmos has identified four areas which could be prospective for Ni-Cu-PGEs.
Based on past exploration work, Cosmos has also identified several gold-copper targets at the small 40sqkm ‘Orange East’ project.
Focus: Gold, Copper
Tentative Listing: 3 Dec
Orange, which is looking to raise $7m in an IPO, is hunting for copper-gold in two major regions: Lachlan Fold Belt (NSW) and Eastern Goldfields (WA).
The NSW assets are close to major gold mines like Cadia (43.4Moz). In WA, it has ground within 25km of Lefroy’s (ASX:LEX) ‘Burns’ copper gold discovery (38m @ 7.63g/t gold, 0.56% copper).
A minimum 1,500m of drilling is planned following listing, with maiden resource at ‘Calarie’ gold project in NSW forecast for early 2022.
Focus: Gold, Nickel, Copper, PGEs
Tentative Listing Date: 3 Dec
The FirstAU (ASX:FAU) spinoff wants to raise between $8m and $12m through its IPO. It has lodged its prospectus with ASIC and is seeking to listing on the ASX around 3 December.
It has five projects in WA. Its flagship is ‘Talga’ project in the East Pilbara, a leading exploration location with new discoveries made nearby by Calidus Resources (ASX:CAI) at its ‘Warrawoona’ project and De Grey Mining (ASX:DEG) at Hemi.
The potential targeting of ‘Hemi-like’ intrusions within the East Pilbara projects present an exploration opportunity for 8AU “as both the exploration areas of the Talga JV and Railway Well project are located in a comparable geological environment”, it says.
Focus: Gold, Copper, Cobalt, Nickel, PGEs
Tentative Listing Date: 6 Dec
Larvotto is looking to raise up to $6m in an IPO. It has three main projects: ‘Mt Isa’ (copper-gold-cobalt in Queensland), ‘Eyre’ (nickel-gold-PGEs in WA) and ‘Ohakuri’ (gold in NZ).
Mt Isa — acquired from Minotaur Exploration and Rio Tinto — is in a well-endowed, world-class copper and gold region.
Nearby deposits include the Mount Isa Mines Operation (MIM), Ernest Henry, E1, Swan-Mt Elliott, Starra, Osborne, Little Eva, Eloise, Jericho, Barbara, and Kulthor.
Larvotto says the project, although adjacent to the famous MIM operation, has been underexplored using modern exploration techniques.
Focus: Zinc, Copper, Indium
Tentative Listing Date: 7 Dec
John Prineas-chaired American West wants to raise $11m through its IPO. It has three advanced, high grade base metal projects in Utah focused on copper and zinc; two of which already have significant resource estimates.
The ‘West Desert’ project already hosts a 59Mt historical zinc-copper resource defined under Canadian NI-43-101 standards.
Following admission to the ASX, American West will undertake work to establish a JORC compliant resource – a must-have for ASX listed companies — and will further assess development potential with scoping studies.
The company will also continue exploration across the large and underexplored project area “where high-grade intersections of copper and zinc have already been encountered outside the resource envelope, indicating strong potential for further discoveries”.
Focus: Copper, Nickel, PGEs, Zinc, Gold
Tentative Listing: 8 Dec
Rubix is looking to raise $4.5m in an IPO.
Its key asset is ‘Paperbark’, 25km from the ‘Century’ mine held by New Century Resources (ASX:NCZ) in North Queensland.
Supporting the Paperbark Project are three greenfields (unexplored) projects: ‘Etheridge’ (gold in Queensland) ‘Lake Johnston’ (nickel, copper, PGEs in WA) and ‘Collurabbie North’ (nickel, copper, PGEs in WA).
Focus: Gold, Nickel
Tentative Listing: 10 Dec
WA-based PNT, a subsidiary of London-listed Panther Metals PLC, raised $5m in an IPO.
Initial drilling will take place at the Coglia nickel-cobalt project, where a JORC compliant exploration target of 30-50 million tonnes at 0.6-0.8% nickel and 400-600 parts per million cobalt has already been defined.
The Merolia gold project is also high on Panther’s agenda, with immediate drilling also planned at the ‘40 Mile Camp’ 2.5km by 5km gold anomaly.
Focus: Gold, Copper, Coal
Tentative Listing: 10 Dec
Colombia-focussed Ronin is looking to raise $5m in an IPO.
The company’s main game is ‘Vetas’: a large, high-grade, thermal coal project containing a JORC Compliant Exploration Target.
The Santa Rosa Project is an earlier stage gold and copper project “located in a prolific artisan mining district”.
Focus: Gold, Uranium, Lithium
Tentative Listing Date: 13 Dec
The African gold, lithium and uranium explorer wants to raise up to $6.5m in an IPO.
‘Saraya’ in Senegal is an advanced-stage uranium-lithium-tin project explored by French Government-owned Areva prior to 2010. That work included an estimated 48,000m drilling.
The project is mainly hosted by granites and pegmatite units which is also prospective for lithium, tin, tantalum and niobium, with spodumene (lithium minerals) having been visually reported.
The ‘Issia’ gold project in Cote d’Ivoire is proverbial stone’s throw from Tietto Minerals’ (ASX:TIE) 3.02Moz ‘Abujar’ project, which should produce its first gold bar in the fourth quarter of 2022.
Focus: Gold, Lithium, Nickel
Tentative Listing Date: 14 Dec
WA-based Infinity is a Macarthur Minerals (ASX:MIO) spinoff looking to raise between $7m and $10m in its IPO. The offer has now closed.
It will have 19 tenements covering 711sqkm in the Pilbara and Central Goldfields.
Focus: Nickel, Copper, PGEs
Tentative Listing Date: 15 Dec
Armada wants to raise between $8m and $10m through its IPO.
It has 2,991sqkm of ground in the Nyanga Province, Gabon which includes several drill-ready nickel-copper targets like ‘Libonga North’, ‘Libonga South’ and ‘Matchiti Central’.
With over U$10m spent on exploration to date, Armada plans to hit these targets hard with drilling over the next two years.
Focus: High Purity Alumina, Kaolin, Manganese
Tentative Listing Date: 20 Dec
ChemX — more advanced materials technology company than aspiring miner– wants to raise $7m through its IPO.
It says it has developed a proven process to produce High Purity Alumina (HPA), a critical input for battery technology.
ChemX plans to develop this ‘HiPurA’ HPA tech, as well as the ‘Kimba’ kaolin-halloysite and ‘Jamison Tank’ manganese projects in South Australia where exploration drilling is scheduled to kick off in Q1 2022.
Focus: Nickel, Gold
Tentative Listing Date: 22 Dec
WA-based nickel explorer DMC wants to raise $5m through its IPO. It has two projects: ‘Ravensthorpe’ and ‘Fraser Range’.
Ravensthorpe is a nickel and gold project next door to First Quantum Minerals’ (FQM) open-pit nickel mine and the RAV8 sulphide nickel mine. There has been limited historical exploration within the project, DMC says.
The 873sqkm of Fraser Range tenements makes DMC one of the largest junior landholders in the region, which is best known for its company-making Nova nickel discovery.
Focus: Gold
Tentative Listing Date: 22 Dec
This hotly anticipated Chalice Mining (ASX:CHN) spinoff will be chaired by Mark Bennett, discoverer of the aforementioned Nova nickel discovery.
Falcon wants to raise between $15m and $30m through its IPO to tackle three projects: Pyramid Hill (VIC), Viking (WA), and Mount Jackson (WA).
Pyramid Hill — CHN’s No 1 focus before it hit the motherlode at Julimar – is highly prospective for high-grade gold deposits like the nearby, world-class Fosterville mine.
Since 2018, CHN has completed ~124km of drilling across the ~5,000sqkm project, defining four large scale prospects.
They include ‘Karri’, which is defined by shallow gold hits up to 34g/t over ~4km of strike, and ‘Banksia’, a giant 10km-long anomaly which returned hits up to 8.7g/t.
Focus: Gold and Base Metals
Tentative Listing Date: 23 Dec
Arbarta wants to raise between $5m and $7m through its IPO. It has three exploration projects in WA – ‘East Laverton’, ‘England’ and ‘Edward’.
East Laverton sits on~ 1200sqkm of its namesake underexplored East Laverton Greenstone Belt.
Greenstone belts host economic deposits of many minerals — including silver, copper, and zinc — but they are best known for gold.
Edward is also in an area of underexplored greenstone belt on trend to the south of the ‘Marvel Loch’ and ‘Transvaal’ deposits, and ~40km from the Marvel Loch processing facility.
England is next door to the Granny Smith processing facility in Laverton owned by miner Gold Fields. This means any discovery could be developed quickly, it says.
Focus: Copper
Tentative Listing: 24 Dec
The South American copper play is looking to raise $6m in an IPO.
It is already listed on the TSX, so this IPO is designed to “significantly enhance its exposure to investors in the ASX market, which has a dynamic and deep junior resources exploration sector”.
Solis has three large-scale copper exploration projects in Chile and Peru.
The recently acquired ‘Mostazal’ project in Chile has a multi-kilometre porphyry target to be drill-tested this year, underneath a high-grade copper-silver historical resource.
Solis also owns the ‘Ilo Este’ and ‘Ilo Norte’ projects in Peru’s southern coastal copper belt, prospective for porphyry and IOCG discoveries.
Focus: Gold
Tentative Listing: 24 Dec
This gold explorer is looking to raise $5.5m in an IPO. It has four projects: ‘Hill End’ (NSW), ‘Hargraves’ (NSW), ‘Pride of Elvire’ (WA), and ‘Taylors Rock’ (WA).
Hill End is in the region where the Beyers and Holtermann nugget — the largest single piece of reef gold ever discovered — was found. This is the nugg itself:
Focus: Copper, Gold
Listing: Just before Xmas
Andean (expected code: ADM) seeks to raise up to $7m through its initial public offering that is due to close on 9 December.
Its relatively advanced ‘El Dovio’ copper-gold (with silver and zinc) project in Colombia is a volcanogenic massive sulphide system –deposits that are rich in base and precious metals like copper, zinc, lead, gold, and silver.
Because these deposits tend to ‘cluster’ together, VMS camps – like DeGrussa on Western Australia — can often be mined for a very, very long time.
Nearby VMS projects include producing ‘El Roble’ mine, which has mined ore plus reserves totalling 3.89Mt grading 2.77% copper and 2.44 grams per tonne (g/t) gold, and ‘El Alacran’ (4.8Mt at 1.4% copper and 0.83g/t gold).
El Dovio is also close to other significant mining projects such as AngloGold Ashanti’s 28 million oz gold equivalent (AuEq) ‘Quebradona’ project and Zijin Mining’s 12Moz ‘Buritica’ gold mine. Great neighbourhood.
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