IPO

Upcoming ASX IPOs: Graphite, Copper and Gold explorers

Mon 27 Jun 22, 4:22pm (AEST)
IPO 12 - Businessman hand holding IPO (Initial Public Offering) word with wooden cube block
Source: iStock

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Key Points

  • 3 IPOs scheduled for this week
  • Chalkos is a copper explorer situated next door to Glencore's world-class Mount Isa Copper deposit
  • Sarytogan is an advanced-stage graphite project hoping to kick off preliminary offtake discussions late this year

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

All times are quoted in Australian Eastern Standard Time. 

The * indicates an indicative listing date.

Monday

None

Tuesday

Bindi Metals*

  • Gold and copper exploration

  • 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.

Bindi considers the project to be an early-stage exploration project, containing several high-grade copper and gold prospect areas. Initial reconnaissance sampling in 2020-21 confirmed high-grade gold, silver and copper at the surface. 

Near-term exploration will focus on mineral verification, geology assessment and review of historical exploration data to generate targets for drilling. 

Wednesday

None

Thursday

Chalkos Metals* 

  • Copper exploration

  • Raising $8m at 20 cents

  • Market cap $14-16m

  • Lists at 11:00 am

  • 3m options issued to lead manager

Chalkos Metals (ASX: CKM) operates the Mount Isa Project, considered prospective for copper and base metals. 

Glencore’s world-class Mount Isa Copper deposit lies to the east and is situated on the same fault system that bounds the Chalkos Metals Mount Isa Project.

Approximately 250,000 soil and rock chip assays have been collected by previous tenements, including uranium explorer Deep Yellow (ASX: DYL). 

Chalkos commenced a 7-hole diamond drilling program in February 2020 to test 3 of its 13 identified priority targets. The company expects drilling to be complete by the September quarter, with initial assay results anticipated to be available by year-end. 

Post-IPO, Chalkos intends to:

  • Drill the 10 remaining priority target

  • Conduct targeted geophysical surveys

  • Further field work including soil sampling, rock chipping and mapping

Sarytogan Graphite*

  • Graphite exploration

  • Raising $8.5m at 20 cents

  • Market cap $25m

  • Lists at TBC

  • 1.6m options issued to lead managers

Sarytogan Graphite (ASX: SGA) operates the Saratoga Graphite Project, situated in the Karaganda region of Central Kazakhstan.

There is currently an Inferred Mineral Resource estimate for Sarytogan (below).

2022-06-27 15 37 49-Microsoft Word - Sarytogan Graphite Limited Prospectus (23 02 22)(2884025.9)

Post-listing, Saratoga plans to:

  • Additional diamond drilling and further metallurgical testwork on up to 100 samples

    • Subject to the results of this week, a proposed JORC Mineral Resource update is planned for late 2022

  • Generate sufficient samples for preliminary market discussions with potential offtake partners

  • Subject to the completion of an updated JORC Mineral Resource, undertake preliminary economic assessments

Friday

None

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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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