The time is ripe if you’re a company hoping to list on the Australian Stock Exchange.
According to data from Refinitiv, reported by the AFR, there have been more than 120 companies debut on the ASX in 2021 raising $6.7 billion, which is the highest in nearly 15 years.
136 companies listed in 2007, and that number could easily be surpassed - particularly if the pace of the next month is anything to go by.
Below is a list of mining companies making their debut on the ASX in the next month, in chronological order, with details on their offer and how much they hope to raise.
Aurum Resources
- Target date: October 18
- Code: AUE
- Max raise: $5 million
- Sector: Gold
Aurum Resources Ltd (ASX:AUE) is a gold explorer, and a wholly-owned subsidiary of Aldoro Resources Ltd (ASX:ARN).
As covered by Proactive, Aldoro made the decision to list Aurum on the ASX to facilitate the fast-tracking of exploration and possible development of the Penny South gold project, the Ryans Find project and the Unaly Hill South project, all located in Western Australia.
This will leave Aldoro to focus on exploring its highly prospective Narndee and Windimurra projects.
Seeking to raise $5 million fund exploration, Aurum would have a market cap of $6.6 million on listing.
Star Minerals
- Target date: October 18
- Code: SMS
- Max raise: $5 million
- Sector: Gold and base metals
Star Minerals Ltd (ASX:SMS) is a mineral exploration company established to explore and develop the Tumblegum South Project (high-grade gold) and the exploration and discovery of gold and base metals at the West Bryah Project, each in central Western Australia.
The Tumblegum South deposit has a granted mining lease and an existing inferred resource of 600,000 tonnes at 2.2 g/t gold, for 42,500 ounces contained gold.
West Bryah is a package of tenements prospective for gold, copper and other base metals, with significant soil anomalies and promising drilling results to follow up.
iTech Minerals
- Target date: October 25
- Code: ITM
- Max raise: $7 million
- Sector: Battery metals
iTech Minerals Ltd will take on the mineral exploration assets being sold off by Archer Materials Ltd (ASX:AXE, OTC:ARRXF), one of the ASX’s premier small cap deep technology companies.
As covered by Proactive recently, Archer shareholders approved the sale of its mining assets to iTech, including industrial kaolin and halloysite mineral and battery mineral projects.
iTech’s chairman Glenn Davis said the newly-minted company was confident of becoming a valuable kaolin and battery minerals company.
“The demand for these materials has been growing strongly due to the electrification of transport,” he said.
“Our projects are close to infrastructure such as ports, roads and electrical grids, which offers opportunities to make our products more competitive through lower costs."
C29 Metals
- Target date: October 26
- Code: C29
- Max raise: $5 million
- Sector: Copper, gold, base metals
C29 Metals Ltd is a minerals exploration company identifying, exploring and developing prospective copper, gold and base metal assets throughout Australia.
It has acquired four projects; the Sampson Tank and Reedy Creek projects in New South Wales, the Torrens project in South Australia and the Stadlers project in Western Australia.
Green Technology Metals
- Target date: October 28
- Code: GT1
- Max raise: $24 million
- Sector: Lithium
Green Technology Metals Ltd is a mineral exploration and development company focused on the discovery and delineation of lithium mineral resources, as demand for the metal skyrockets thanks to, as the name says on the tin, green technology.
The company has three main lithium assets, the Seymour, Root and Wisa projects, in the mining-friendly jurisdiction of Ontario in eastern Canada.
Green Tech is raising $24 million to fund exploration of these projects and would have a market cap just shy of $50 million on successful listing.
Its chairman, John Young, said it was an “interesting time” in the evolution of the EV and battery market, especially in North America, with the recent rebound in lithium demand.
“I believe there is increasing confidence and optimism in the battery supply chain, with the prices of spodumene concentrates increasing dramatically over the last six months,” he said.
“This has occurred as most of the current supply is being locked up in long term contracts with the major producers of lithium chemicals - now is the time to bring on new sources of supply.”
Cooper Metals
- Target date: October 29
- Code: CPM
- Max raise: $4.8 million
- Sector: Copper and gold
Cooper Metals Ltd is a minerals exploration company that is identifying, acquiring and developing prospective copper, gold and base metal assets throughout Australia.
Most notably, it has acquired an 85% interest in the Mt Isa East project which comprises five granted exploration permits for minerals covering a combined area of approximately 1,300 square kilometres in the Mount Isa district of northwest Queensland prospective for copper and gold.
It has also acquired 100% interests in the Yamarna and Gooroo gold projects in Western Australia; Yamarna comprises two licences covering 173 square kilometres prospective for gold and Gooroo covers 152 square kilometres prospective for gold and copper.
Austral Resources
- Target date: November 3
- Code: AR1
- Max raise: $30 million
- Sector: Copper
Austral Resources Ltd produces London Metal Exchange (LME) Grade A copper cathode from its open cut mine and is going public, seeking to raise $30 million with the bulk of proceeds going towards exploration and capital expenditure at the Anthill project and Mt Kelly processing facility.
Anthill has an ore reserve of 5.06 million tonnes at 0.94% copper, holding 47,500 tonnes of contained copper that is capable of producing 40,000 tonnes of copper cathode over a four year period.
The company is developing a new open pit copper mine and also has 1,340 square kilometres of highly prospective exploration tenements near Mount Isa, some of which have advanced exploration status.
Its chairman, Phillip Thomas, said the company would apply the funds to make its capital structure more efficient and commence development of the Anthill Project.
“While the mine life from the Anthill copper oxide deposit is estimated at four years, successful exploration efforts will allow us to extend this time period,” he said.
“This is an opportunity for investors to invest in a company already producing copper with significant ore reserves in the Anthill project only 45 kilometres away from the Mt Kelly processing facility.
“Our sales contracts are in place and the price for copper has a positive outlook, based on analyst reports and underlying copper demand building from the global push towards decarbonisation – renewable energy and electric vehicles.”
Hamelin Gold
- Target date: November 4
- Code: HMG
- Max raise: $12 million
- Sector: Gold
Hamelin Gold Ltd is a gold exploration company that holds the West Tanami project in Western Australia, a belt-scale gold project covering 2,277 square kilometres of a well-endowed, emerging gold province that remains significantly underexplored.
The tenement package represents one of the largest contiguous land holdings in the Granites Tanami Orogen containing the prospective Stubbins Formation, the time equivalent geological package that hosts Newmont’s 14-million-ounce Callie gold deposit across the border in the Northern Territory.
Its chairman, Will Robinson said the project contained numerous prospects with open, high-grade gold intersections.
“We intend to implement leading-edge exploration programs to unlock the potential of West Tanami,” he said.
“We provide attractive exposure for investors to the systematic modern exploration of an exciting belt scale gold project in the tier 1 mining jurisdiction of Western Australia.”
Dundas Minerals
- Target date: November 9
- Code: DUN
- Max raise: $6 million
- Sector: Copper, nickel and gold
Dundas Minerals Ltd holds four exploration licences and has secured a dominant land position in a highly prospective area of the southern portion of Western Australia’s mineral-rich Albany-Fraser orogen.
In the company’s prospectus, chairman Mark Chadwick said the company was particularly excited about its nickel prospects.
“A key and exciting feature of our exploration tenements is that nearly all previous exploration targeted gold and base metals, rather than nickel,” he said.
“Predominantly, prior exploration was conducted pre-2012, the year the Nova nickel deposit, which lies 120 kilometres to the north of our Dundas Project, was discovered.
“At that time, the prospectivity for nickel within the area covered by our tenements was not appreciated; however, the understanding of the geological relationship between the Fraser Range, where Nova is, and the Biranup Zone, the location of our Dundas Project, continues to evolve, and in our opinion is increasingly favourable for nickel, gold and base metals discoveries.”
Lykos Metals
- Target date: November 9
- Code: LYK
- Max raise: $12 million
- Sector: Battery metals
Lykos Metals Ltd is an explorer in Bosnia and Herzegovina, not the first country that springs to mind when thinking of battery metals exploration but a promising player all the same.
The company has acquired the Sockovac, Sinjakovo and Cajnice projects, which have a long history of mineral discovery and extraction but remain almost completely unexplored by modern geological exploration methods.
The Sockovac project is prospective for nickel, cobalt, copper, gold, silver, lead and zinc and was subject to historical drilling and surface exploration in the 1960s-1970s and more recent soil and rock chip sampling and reconnaissance in 2021.
Sinjakovo project is prospective for copper, cobalt, gold, iron, lead, silver and barite, and was the subject of small-scale historical underground mining in the 19th century, with surface exploration in the mid-20th century and more recent soil and rock chip sampling and reconnaissance in 2021.
The Cajnice project is prospective for copper, gold, lithium, rare earth elements, lead, zinc and silver, and was subject to historical exploration in the mid-20th century and more recent rock chip sampling and reconnaissance in 2020-2021.
Cosmos Exploration
- Target date: November 11
- Code: C1X
- Max raise: $5 million
- Sector: Copper, nickel and PGE
Cosmos Exploration Ltd is a mineral exploration company focused on the acquisition, exploration and development of mineral resource projects throughout Western Australia and New South Wales.
The company is a spin-out of two projects from RareX Ltd - the Byro East nickel-copper-platinum-group element (PGE) Project in Western Australia and the Orange East gold project in NSW.
The decision was made to spin out Cosmos to allow the value of the Byro East and Orange East projects to be realised, as RareX continues its focus on its Cummins Range rare earths project in WA.
Cosmos is looking to raise $5 million and would have a market cap of $7 million upon listing.
Kalgoorlie Gold Mining
- Target date: November 12
- Code: KAL
- Max raise: $12 million
- Sector: Gold
Kalgoorlie Gold Mining Ltd is a mineral exploration company committed to increasing shareholder wealth through the acquisition, exploration and development of mineral resource projects throughout the Kalgoorlie region of Western Australia.
It will use the $12 million raised in its IPO to systematically explore across its quality portfolio of highly prospective projects, consisting of 73 tenements covering 1,077 square kilometres within 150km of Australia’s gold capital, Kalgoorlie-Boulder.
Its three lead gold assets are:
- The Bulong Taurus Gold Project, an historic gold mine in the Taurus gold mining centre at Bulong including the Great Ophir, Central and Turnpike prospects, with recent metal detecting gold nugget discoveries with fine filigree gold attached to quartz veins.
- Laverton Tectonic Zone Gold Project, a tenure within the Laverton Tectonic Zone immediately west of the historic Pinjin gold mining centre, again the site of recent metal detecting gold nugget discoveries in areas of virtually no historic drill exploration.
- The Keith Kilkenny Tectonic Zone Gold Project, a granted tenure within the Keith Kilkenny Tectonic Zone, which hosts significant gold resource discoveries from Apollo Hill in the north to Carosue Dam and Lake Roe in the south.
- Daniel Paproth