Home' Australian Resources and Investment : March 2017 Contents 2017 resource IPOs
Cobalt Blue Holdings is the largest of
the proposed resource-sector listings,
with a $10-million IPO. The pure-
play cobalt explorer is advancing the
Thackaringa cobalt project in New
South Wales, and is seeking to invest in
energy storage (battery) technologies.
Cobalt Blue was still to advise its
listing data as AR&I went to press --
often a sign that the IPO needs more
time to raise its minimum subscription
or secure enough shareholders.
E2 Metals sought $8 million to
advance its fully owned agship
asset, Neavesville epithermal gold and
silver project, in the Hauraki gold eld
of New Zealand's North Island. E2's
portfolio also includes the advanced
Mount Hope gold project in the Cobar
Basin of New South Wales.
E2 wants to de ne a maiden gold
resource at Mount Hope that complies
with the Joint Ore Reserves Committee
(JORC) Code as a quickly as possible,
given that it drilled the area in April 2013.
Gold and nickel explorer Ardea
Resources is another IPO in the 'to be
advised' category (for its listing date).
Ardea holds, or will hold, rights to
Heron's Kalgoorlie nickel project, and
other non-Woodlawn portfolio of assets.
Ardea sought $3.5 million in its IPO.
Huntsman Resources sought $3.5
million through an IPO to develop the
Mambasa project in the Democratic
Republic of Congo, and the fully owned
Crackerjack project near Halls Creek in
the north-west of Western Australia.
Huntsman says that Mambasa has
structural settings similar to other
large-scale gold deposits within the
region, including AngloGold Ashanti's
Geita in Tanzania and Loncor Resources
Inc's recently de ned Makapela and
Adumbi gold projects.
Lithium Consolidated Mineral
Exploration is another IPO looking to
capitalise on rising investor sentiment
towards lithium. Lithium Consolidated
is seeking $8 million to develop large
land positions in Nevada -- one of only
three regions in the world with existing
lithium production. The assets are
within four kilometres of Albemarle's
Silver Peak Mine -- the only producing
lithium brine mine in North America.
Marquee Resources, a lithium-
focused explorer, sought $3.5 million
through an IPO in early 2017. Marquee
Resources was formed to acquire and
develop lithium exploration prospects in
Clayton Valley in Nevada. Marquee was
expected to list as AR&I went to press.
Another lithium hopeful, MetalsTech,
sought $4 million to develop seven
lithium projects near Quebec in Canada.
MetalsTech is focusing on near-surface
pegmatites that could facilitate early
production and a lower-risk path
through development to operation.
Gold explorer Matador Mining wanted
to raise $3.35 million to develop seven
exploration and prospecting licences in
Western Australia that are prospective
for gold, copper and industrial metals,
including lithium, tantalum and tungsten.
Matador's agship Oriental gold project
is 40 kilometres to the north of Kalgoorlie
and eight kilometres to the east of Broad
Arrow in Western Australia. Oriental is
in the Archaean Yilgarn Craton of the
Eastern Gold elds province.
Majestic Horizon Holdings, seeking
$4 million, is among the few resource
service companies to attempt to
oat in the past few years. Majestic
leases mud-cooling equipment for
onshore and offshore oil and gas, and
geothermal drilling, particularly for
drilling. Majestic also leases conductor
piling equipment and containers.
Among other intended resource
oats, Nelson Resources sought
$5 million to develop four gold
projects within the Western Australian
Gold elds. The company's key
tenements either have signi cant recent
drilling or historical mine workings.
Raptor Resources launched
a $4-million IPO to acquire and
develop gold and base metals projects
in Western Australia. Raptor's
Yandicoogina project is 50 kilometres
south-east of Marble Bar in the East
Pilbara province of Western Australia.
Brisbane-based Traprock Mining
launched a $6.5-million IPO to develop
gold and copper projects in south-east
and central Queensland. Traprock
says that there is potential to expand
historic resources at its agship Mount
Wilgena Resources, a South
Australia--focused explorer, withdrew its
Tony Featherstone is a former managing
editor of BRW and Shares magazines. The
information in this article should not be
considered personal advice. The article has
been prepared without considering your
objectives, nancial situation or needs. Before
acting on the information in this article, you
should consider its appropriateness regarding
your objectives, nancial situation and needs.
Do further research of your own or seek
personal nancial advice from a licensed
adviser before making any nancial or
investment decisions based on this article.
All prices and analysis as at time of print.
Resource bears will argue that the
IPO recovery is weak given the still
low volume and value of mining
oats, and that any gains are off a
low base. That is true, but the IPO
pipeline -- for all companies -- looks
much stronger in 2017 as some
blockbuster oats come to market
4 • Australian Resources and Investment • VOLUME 11 NUMBER 1
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