IPO

This week's upcoming IPOs: Lithium, uranium, nickel and gold explorers

Mon 16 May 22, 11:41am (AEST)
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Key Points

  • 4 IPOs this week
  • Aurora Energy Metals is a US-based lithium and uranium explorer
  • TG Metals is hopeful for a discovery in the underexplored Lake Johnston Belt, WA

Every Monday, Market Index reviews the upcoming IPOs for the week.

All time is quoted in Australian Eastern Standard Time. 

The * indicates an indicative funds raised and listing date/time.

Monday

Southern Cross Gold

  • Gold explorer

  • Raised $9m at 20 cents

  • Market cap $30m

  • Lists at 11:30 am

  • Offer of 6.5m options to the joint Lead Managers (Baker Young and Pulse Markets)

Southern Cross Gold (ASX: SXG) was due to list last Wednesday.

You can read more about the company in last week's upcoming IPOs.

Tuesday

 None

Wednesday

Aurora Energy Metals*

  • Lithium and uranium explorer

  • Raising $8m at 20 cents

  • Market cap $30m

  • Lists at 11:00 am

  • Lead manager options: 2.85m

Aurora Energy Metals (ASX: 1AE) operates the Aurora Energy Metals Project in Southeast Oregon, US.

2022-05-16 11 09 58-Cover
Aurora Energy Metals Project location (Source: Aurora 2022)

The project has a JORC compliant defined uranium resource of 37.9m lb and prospective for lithium.

Over the next 2 years, Aurora aims to convert its existing uranium resource to Measured status, advance studies and define a maiden lithium resource.

You can read more about Aurora via our deep dive page here.

Thursday

Bindi Metals*

  • Gold and copper explorer

  • Raising $4.8m at 20 cents 

  • Market cap $6.3m

  • Lists at 11:00 am

  • Offer of up to 3.5m leader manager options

Bindi Metals (ASX: BIM) operates the Biloela Project in Queensland.

Biloela is an early-stage exploration project. Reconnaissance sampling during 2020-21 confirmed high-grade gold, silver and copper at the surface.

Near-term activities will focus on verification and critical re-assessment of the geology and historical exploration data to generate targets for drilling.

Friday

TG Metals* 

  • Nickel, lithium and gold explorer

  • Raising $6m

  • Market cap $11.5m

  • Lists at 1:00 pm

  • Offer of 3.2m options for lead manager

TG Metals (ASX: TG6) operates the Lake Johnston Project in WA.

The Lake Johnston Belt has not been subject to extensive exploration unlike most other greenstone belts due to difficult access to the lack of outcrop.

2022-05-16 11 31 05-Prospectus - TG Metals Limited
Source: TG Metals Prospectus

The region has attracted explorers as of late, including Charger Metals (ASX: CHR), Lithium Australia (ASX: LIT) and Okapi Resources (ASX: OKR).

In the near-term, TG intends to undertake early-stage exploration activities such as review historical exploration data in the lead up to drilling and metallurgical testwork.

 

Written By

Kerry Sun

Finance Writer & Social Media

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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