Here’s what the 2021’s top 10 resources IPOs are up to in 2022
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As previously reported on Stockhead, new resource companies on the ASX tended to perform well with the average float rising by 17% in 2021, just a little better than the average gain of 14% for all IPOs.
Perhaps more importantly, resource companies dominated the list of best performers with mineral explorers taking out 12 of the top 20 slots.
Given their strong performance, here’s a peek at what the top 10 resource IPOs of 2021 are doing this year to keep their share prices up.
2021’s top resource IPO has mapped out a clear pathway to advance and develop its Skuterud cobalt, Ringerike copper-nickel-cobalt, Undal-Nyberget copper and the Nord-Helgeland LCT pegmatite projects in Norway.
At Skuterud, the company plans to start diamond drilling and further geochemical rock and soil sampling programs in the second quarter, evaluate pre-existing drill holes for their suitability for down-hole geophysics, and analysis and evaluation work on all data ahead of a decision of next stage activities in the fourth quarter.
It will also carry out work at Ringerike to re-evaluate the brownfields Erterlien mine site and carry out a widespread stream sediment sampling program to understand the prospectivity of the area.
A field program will be carried out at Nord-Helgeland to identify occurrences of battery and technology metals hosted in lithium-cesium-tantalum pegmatites while targeted sampling and a reconnaissance site visit will be carried out at Undal-Nyberget.
Shares in Kuniko continue to show strength as they are up 425% from their listing price of 20c.
Global Lithium is poised to kick off an extensive reverse circulation drill program at its Marble Bar lithium project where it had picked up in November, two tenements immediately to the north and east of the Archer deposit, with an Inferred resource of 10.5Mt grading 1% lithium oxide.
The 60,000m program will build on the success of recent programs and thoroughly test the extent of mineralisation contained within the greenstones to the south of Archer.
This program, which is funded by the recent $13.6m capital raise that saw the introduction of Yibin Tianyi – the lithium chemical arm of the world’s largest EV battery producer CATL, will also follow up on many existing and newly identified lithium targets from the company’s 2021 programs.
Shares in Global Lithium are up a massive 690% from their listing price of 20c.
Following initial assays from its 2021 regional drilling program confirming the presence of shallow rare earth mineralised clays, the company is now planning to start an additional 10,000m drill program in early February.
This is intended to define additional resources.
Australian Rare Earths will also continue its investigations into the recently discovered mineralised zone in EL6613 where the mineralised clays were intersected and progress planning for exploration drilling at the new Keith and Bordertown tenements.
AR3 shares are up 206.7% from their 30c listing.
IRIS is currently reviewing all data and will develop an exploration program to test seven high-priority structural geological targets that it had recently identified from aeromagnetic data acquired over the entirety of its Kookynie and Leonora gold projects.
The company also plans to carry out a broader aircore drilling program at Leonora to test the new targets and implement systematic auger geochemical sampling to better understand the underlying geology and generate further data to complement its aeromagnetic targets.
While much of the company’s focus has been on its flagship Kookynie project, Leonora is also highly prospective given that work by Kin Mining (ASX:KIN) in the area surrounding its component Chain Bore and Benalla tenement packages have identified multiple gold bearing structures with a total inventory of 1.23Moz of gold.
Results are also pending for its maiden RC drill program at Kookynie.
Investors are clearly still in favour of IRIS given that its shares are up 215% from their list price of 20c.
The company is currently carrying out a deep ground penetrating radar on a priority target at its Mt Peake lithium project to constrain the geometry of mineralised pegmatites identified by initial field mapping and sampling.
It hopes that this survey will provide valuable information for designing its maiden drill program.
But it’s not all about battery metals. Australasian is also planning to carry out a geophysical survey in the targeted area at its May Queen gold project in Queensland ahead of a planned follow-up drill program.
Fieldwork has also started at its Fairview gold project in Western Australia’s northwest, which is structurally similar to the Mt Clement deposit less than 5km to the southeast and the Paulsens Gold Mine.
Shares in Australasian are up 1 75% from their listing price of 20c.
Following previous drilling that extended nickel mineralisation at its Musket prospect downdip by a further 230m, the company has locked in a diamond rig to carry out drilling at the Fisher East project in the middle of this quarter.
This will test the Sabre, Tomahawk, Camelwood and Musket prospects with the goal of growing the existing resource.
Shares in Cannon are still up 100% from their listing price of 20c.
Revolver is currently re-validating over 9,000m of historical drill data and metallurgical test work from the Green Hill zone at the previously producing Dianne Copper project in Queensland.
Assays are currently pending for three diamond holes where abundant visible copper and zinc mineralisation was observed.
The company is also preparing to calculate a JORC for Dianne Copper based on the results of previous drilling to serve as a base level resource to be built on with future exploration success.
Listing at the same time as IRIS, shares in Revolver are lagging behind its compatriot though still up 130% from its 20c list price.
The company is currently planning to carry out additional detailed sampling at its Dobrinja lithium-borate project in Serbia after initial sampling indicated a permissive environment for stratabound mineralisation.
This will be carried out in areas where anomaluse zones were identified, which may provide near term drill targets for the company.
Balkan is also evaluating historical ground geophysical surveys conducted across the tenements to estimate the thickness of sediments.
Shares in Balkan are up 92.5% from their listing price of 20c.
Assay results are currently pending for a further seven holes drilled into the F1a zone of its Alice River project in Queensland where earlier holes in the program returned hits such as 17m grading 9.3 grams per tonne (g/t) gold including 3m at 25.3g/t gold and expanded the high-grade zone at the Central Target.
The company noted that both the RC and diamond rigs from its 2021 program remain on site and it plans to start step-out resource drilling late this quarter or early in the June quarter on the F1a zone.
Pacgold shares are up a hefty 264% from their 25c list price.
Since listing in November, the company has been progressing a series of engineering studies to improve the economics and carbon footprint of its Chilalo graphite project in Tanazania.
This is a continual process towards an expected construction decision by the second half of 2022.
Its existing definitive feasibility study is executable as it stands and Evolution is currently making preparations to tender a front-end engineering and design package for Chilalo along with progressing project finance discussions.
Shares in Evolution are up 107.5% from their listing price of 20c.
At Stockhead we tell it like it is. While IRIS Metals is a Stockhead advertiser, it did not sponsor this article.