Upcoming ASX IPOs: Battery metals, copper and gold
Two diversified metals explorers are expected to debut this week
KEY POINTS
- 2 IPOs scheduled for this week
- Metals Grove is a battery metals focused explorer with projects in WA and the Northern Territory
- Aeramentum Resources expects to be drill ready in the second-half, searching for copper, nickel, cobalt and gold
Every Monday, Market Index reviews the upcoming IPOs for the week.
All time is quoted in Australian Eastern Standard Time.
The * indicates an indicative listing date.
Monday
None
Tuesday
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Wednesday
Metals Grove*
Lithium, rare earth, copper and base metal exploration
Raising $7m at 20 cents
Market cap $11-13m
Lists at 1:00 pm
Metals Grove (ASX: MGA) has assembled a portfolio of lithium, rare earth, copper, tin, manganese and base metal projects, aimed at leveraging the renewables and battery megatrend.
WA projects include:
Woodie Woodie North Project (manganese and rare earth)
Recent surface samples returned a number of highly anomalous manganese and cobalt assays
Upper Coondina Project (lithium, tin and tantalum)
CSR identified pegmatite veins, no serious lithium exploration has been carried out in the project area
Source: Metals Grove prospectus
Northern Territory projects include:
Bruce Project (gold, copper, lithium and rare earth)
Geological mapping has confirmed potential for pegmatite-hosted rare earth element mineralisation
Edwards Creek Project (copper, zinc and lead)
Box Hole Project (zinc and lead)
Prospective for large tonnage lead-zinc mineralisation
Source: Metals Grove prospectus
Metals Grove will undertake early-stage exploration activities including surface mapping, sampling and assays across the projects in the lead up to drilling.
Thursday
Aeramentum Resources*
Copper, nickel, cobalt and gold exploration
Raising $7m at 20 cents
Market cap $11-14m
Listing time TBA
Aeramentum Resources (ASX: AEN) is a base metals explorer, operating the Treasure Project in Cyprus.
The Treasure Project covers 46km<sup>2</sup> and consists of three project areas: Laxia, Pevkos and Apsiou. Exploration and sampling is currently underway, and drilling in priority regions is expected to commence in the second-half of 2022.
The Laxia Project is currently the priority region for drilling, with drilling planned to commence immediately post listing. Mineralisation has been observed up to 7m wide and preliminary assays returning grades of 3.6 g/t for gold, 1.25% copper and 0.16% nickel.
Massive sulphides could extend in thickness below the surface, with the first drill holes planned to target this mineralisation.
Friday
None
