IPO Radar: rare earths, cobalt, and high purity quartz juniors listing next week

The below list is subject to change due to market conditions and other potential unforeseeable factors. Market Capitalisations are indicative and assume each IPO meets its full raising target. 

ACDC Metals (ASX: ADC) 

Listing: Tuesday 17 January 2023 

Raising: $8,000,000 (Prospectus) 

Market cap: $14.4m 

Summary: On its website,ACDC Metals reports it is developing a Rare Earth Element (REE) downstream technology, as well as developing mineral sand exploration assets to create a diversified critical metals company. The company holds three heavy sands projects: 

• Goschen Central - Victoria - 80% owned

• Douglas - Victoria - 80% owned 

• Watchem - Victoria - 100% owned 

The company also holds an exclusive licence to operate its Medallion Monazite Processing (MMP) technology in VIC, SA, NT, and NSW. That licence comes by way of an agreement with Toronto-listed Medallion Resources (TSXV:MDL). 

Use of proceeds: The company will launch straight into exploratory fieldwork and mapping at its heavy mineral sands projects while also progressing to advanced testing of its MMP technology. 

Worth noting: Heavy mineral sands projects often contain monazite, which gives the company feedstock with which to underpin R&D activities. 

High-Tech Metals (ASX: HTM) 

Listing: Tuesday 17 January 2023 

Raising: $5,500,000 (Prospectus)

Market cap: $7.35m

Summary: High-Tech Metals was formed in February 2022 as a vehicle to purchase 100% of the Canada-based Werner Lake cobalt project, located in Ontario, in the Kenora Mining District. The project is currently owned by Toronto-listed Global Energy Metals Corporation (TSXV:GEMC) at 70%, and, Marquee Resources Limited (ASX:MQR) at 30%. 

Use of proceeds: The company will launch straight into technical exploration at Werner Lake, with the target of testing undrilled targets and identifying new exploration targets on-site the project acreage. Funds will also be used to underpin the 100% acquisition of Werner Lake. Cobalt ore and concentrate collected in drilling will be subject to metallurgical test work. 

Worth noting: The Werner Lake Project is composed of 11 licences covering an area of 1,746ha. Underpinning the acreage is the Werner Lake Geological Belt, which is within the Achaean English River sub-province, an 800km long east-west trending formation. 

Greentech Metals (ASX: GTM) 

Listing: Wednesday 18 January 2023 

Raising: $7,000,000 (Prospectus) 

Market cap: $30.338m 

Summary: Greentech Metals will explore for High-Purity Quartz (HPQ) at its tenements near Mt. Isa in Northern Queensland. HPQ is used in the manufacturing of solar panels and semiconductors.

Use of proceeds: The company will use the funds to progress a Feasibility Study for the HPQ project. Also on the agenda is management’s goal to secure offtake contracts with downstream entities, and move ahead with downstream metallurgy and refining. 

Worth noting: The company already has an agreement in place with Chinese company Jiangsu Yangshan Silicon Materials Technology Co. for 5,000tn of HPQ feedstock per annum.