Belararox Ltd has floated on the Australian Stock Exchange under the ticker ‘BRX’, positioning itself as a technology and renewable energy base and precious metal explorer with potential exposure to zinc, copper, gold, silver, nickel and lead.
The company completed a well-supported $5.066 million IPO in December 2021, issuing 43 million new shares at an offer price of $0.20 per share.
Belararox has two wholly-owned, drill-ready projects; Belara in New South Wales, which is prospective for zinc-copper-lead-silver-gold, and Bullabulling in Western Australia, prospective for gold and nickel.
There is known mineralisation at Belara, which the company intends to explore via drilling imminently, with a ground geophysics survey slated to begin next week.
Belararox chair Neil Warburton brings plenty of mining experience to the table, having occupied a position on the board of IGO and as CEO of Barminco Holdings mining services for about a decade.
BRX by the numbers
Belararox raised $5.066 million before costs, giving the company a market capitalisation of about $8.6 million and a low enterprise value of about $4 million.
The $5.066 million raised through the IPO will allow Belararox to fund what it describes as an aggressive exploration strategy.
The company says it will systematically investigate its projects by exploring for metals and gold, using geological mapping, geophysics, surface sampling, 2D and 3D spatial data modelling, machine-learning techniques, and drilling.
Geophysical surveys are slated to begin immediately, with resource drilling planned to follow up in the coming weeks.
Belara has some 25 kilometres of strike length that remains untested, while Bullabulling boasts promising geology untested by exploration drilling.
The Belararox team
The Belararox board is led by industry veteran Neil Warburton as non-executive chair, Arvind Misra as managing director and Michelle Stokes and Stephen Lowe as non-executive directors.
Belararox managing director Arvind Misra commented on the successful listing and IPO: “Our ability to achieve this fantastic result speaks to the outstanding growth potential inherent in our assets, the exceptional work our team has done to date.
“Belararox is well-funded to quickly execute its strategy to explore for metals critical to the energy transition as well as gold.
“We are in the enviable position of having two very strong assets and expect to deliver consistent positive news flow, with the geophysical surveys starting immediately and drilling to commence imminently.”