IPO Radar: Core Lithium has a new neighbour

Fri 03 Mar 23, 10:54am (AEST)
Source: Shutterstock

Key Points

  • There are 2 IPOs scheduled for next week

Let's look at all the companies set to list on the ASX for the week commencing Monday, 6 March.





Offer price

Mkt cap

Listing date (AEDT)


Northstar Energy



20 cents


12 pm, 9 March


Evergreen Lithium



25 cents


10 March

Northstar Energy: Solving the east coast gas crisis

Northstar is focused on the exploration of hydrocarbon resources at its flagship Cosmos Project in south-west Queensland.

Project Cosmos: The Project consists of ATPs (authority to prospect) 1098 and 1072, over 9000km2 of tenure which covers a highly prospective but under-explored region of Surat, Eromanga and Adavale basins.

Use of proceeds: Proceeds will be allocated towards exploration drilling, pilot production trials, repaying of loan owing to Ranger Resources and general working capital.

Next steps: Northstar will progress work programmes in the 24 months post listing, referred to as Phase 2 Exploration and Phase 3 Exploration.

  • Phase 2 Exploration: Complete a series of petroleum wells with the aim of establishing compliant resources and/or reserves, undertaking permeability, porosity and gas content testing, ground water monitoring and field studies

  • Phase 2 Exploration: Establishing 1-3 coal seam gas pilot wells, pilot well testing and continuation of infill drilling aimed at establishing compliant reserves

Link to prospectus

Evergreen Lithium: Core Lithium has another neighbour

If you're a fan of nearology narratives, then Evergreen is as close as it gets. The company's Bynoe Lithium Project sits just 1.2km from Core Lithium's (ASX: CXO) deposit.

Source: Evergreen Lithium prospectus

The Bynoe Lithium Project: The project covers an area of 231km2, making it one of the largest tenement holders within the central Bynoe Pegmatite Field after Core Lithium. Very limited geochemical work has been undertaken within the tenure but results to date have been "highly encouraging, resulting in drill ready exploration targets."

Next steps: Evergreen plans to expand the area previously soil sampled and rank anomalies for future drill testing. Once baseline geochemical and geophysical data has been collected, it plans to systematically drill test anomalies.

More nearology: Evergreen operates another two early stage lithium projects. The Kenny Lithium Project in WA sits within close proximity to names like Mineral Resources' (ASX: MIN) Mount Marion, Bald Hill and Liontown Resources' (ASX: LTR) Baldania. As well as the Fortune Lithium Project in the Northern Territory, which is currently in its application phase and undergoing native title procedures. It neighbours familiar names such as Core Lithium, Lithium Plus and Australasian Metals.

Link to prospectus

Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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