Every Monday, Market Index reviews the upcoming IPOs for the week.
All times are quoted in Australian Eastern Standard Time. All listing dates and time are subject to change.
Copper, gold and base metal explorer
Raising $6m at 20 cents
Lists at 11:00 am
$11m market cap
Lead manager to receive 500,000 options
Coolabah Metals (ASX: CBH) operates three separate early stage projects in NSW and Queensland, including:
The Nymagee Project (NSW) is prospective for copper and gold
The Coolabah Project (NSW) has previous geochemistry highlighting significant copper anomalism
The Gunpowder Creek Project (QLD) is prospective for copper-lead-zinc deposits
The company has proposed the following near-term exploration activities:
Nymagee: Follow-up infill soil sampling of anomalous areas, field mapping and an airborne gravity survey
Coolabah: Contractor for 1,000 line km airborne EM survey has been commissioned to test for base metals
Gunpowder: Mapping and sampling of historic gold workings
Raising up to $100m at 70 cents
Lists at 11:00 am
$780-840m market cap
Demerged lithium assets of Firefinch
Leo Lithium (ASX: LLL) operates the Goulamina Lithium Project through a joint venture with Chinese lithium giant Ganfeng. Both companies hold a 50% interest in the project.
Notable highlights for the Goulamina project include:
One of the world's largest spodumene projects, with anticipated annual spodumene concentrate production of 506,000 tonnes in Stage 1, ramping up to 831,000 in Stage 2
Top 7 global hard rock Mineral Resource at 108m tonnes at grades of 1.45%
High quality concentrate, test work validating 6% spodumene grades
Stage 1 capital cost of US$255m, operating costs of US$312 a tonne
Post-tax NPV of US$2.95bn (according to updated Definitive Feasibility Study)
Subject to offtake, Ganfeng has the right to receive 50% of Goulamina's life of mine spodumene and will receive rights to the remaining 50%.
The Board and Ganfeng approved a final investment decision for Goulamina on 4 January and production is targeted for early 2024.
Rare earth explorer
Raising $8m at 20 cents
Lists at 12:00 pm
$18-20.5m market cap
Lead manager offered 2.5m options
Odette Six Metals (ASX: OD6) has a 100% interest in the following projects:
Splinter Rock Project (WA)
Grass Patch Project (WA)
Splinter Rock is considered as an advanced-stage exploration project, prospective for clay rare earth elements (REE). Historical air core drilling intersected enriched REE zones, suggestive of a potential large-scale mineral system.
Odette is currently designing research and development programs to determine the geometallurgical characteristics of clay REE in the region.
Grass Patch is almost entirely covered with wheat and sheep farming. It's an early-stage exploration project with limited effective historical data.
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