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.
Demerger of Tabcorp’s Lotteries and Keno business
Lists at 11:00 am
The Lottery Corporation (ASX: TLC) is expected to be an "omni-channel business with a portfolio of high profile, recognise brands and games, strong digital growth and a retail footprint across c.7,000 retail outlets."
You can read more about the Lottery Corp here.
Diversified metals explorer
Raising $6.5m at 20 cents
Market cap $13.5m
Lists at 12:00 pm
Lead manager receives 1.95m shares
Bellavista Resources (ASX: BVR) is an emerging mineral exploration company with a "strong land position, capable of hosting giant to super-giant base metal deposits, and battery mineral deposits."
The company's project portfolio consists of:
Key focus of initial exploration activities (most of budget allocated for Brumby's)
Prospective for zinc, copper, silver and gold
Vernon Base Metal Project
Early stage project with limited prior exploration
Prospective for zinc, silver, copper, gold and palladium
Vernon Nickel/PGE Project
Project also hosts the Kiangi uranium target
Gorge Creek Project
Early stage exploration project with very little on-ground previous exploration
Prospective for sulphide hosted nickel, copper and PGEs
Nickel, copper and cobalt explorer
Raising $12m at 25 cents
Market cap $24-29m
Lists at 11:30 am
Leader managers receive 4m options
Nordic Nickel (ASX: NNL) is a Europe-based explorer operating the Pulju Project as well as an earn-in agreement for the Maaninkijoki 3 (MJ3) Project, both of which are located in Finland.
One granted exploration licence and 7 exploration licence applications
Underexplored terrain with a large-scale magmatic nickel sulphide system "already demonstrated"
Independent Technical Assessment Report estimates the one granted exploration licence area to potentially contain "approximately 150-180Mt of nickel at grades between 0.22-0.27%"
Exploration potential and proposed work
Complete a Mineral Resource Estimate at the Pulju Project through:
Target surface and geophysical surveys to detect massive sulphide mineralisation
Infill and exploration drilling within and around the Hotinvaara Exploration Target
Drilling of proposed holes is planned for 2022 and 2023 field seasons
Generate drill targets at the MJ3 Project through surface geophysics
Nickel, lithium and gold explorer
Market cap $11.5m
Lists at 1:00 pm
Offer of 3.2m options for lead manager
TG Metals (ASX: TG6) was proposed to list last Friday, May 16.
The company operates the Lake Johnston Project in WA. The region has recently attracted several battery metal explorers including Charger Metals (ASX: CHR), Lithium Australia (ASX: LIT) and Okapi Resources (ASX: OKR). TG plans to kick off early-stage exploration activities in the lead up to drilling and metallurgical testwork.
Raising $6m at 20 cents
Market cap $12m
Lists at 11:00 am
Leader manager offered 3.5m options
Oceana Lithium (ASX: OCN) has exposure to two highly prospective lithium exploration projects covering large acreage in the lithium bearing regions of Brazil and the Northern Territory.
#1 Solonopole Lithium Project
Recent exploration and site visits confirms the presence of "extensive pegmatite mineralisation".
Recent rock chip samples returned lithium grades between 0.06% and 9.89%.
Following the IPO, Oceana plans to complete:
Infill soil geochemistry
Ground magnetics survey
Trenching and mapping across identified anomalies
First pass RC and diamond drilling program across priority targets
Napperby is an early-stage exploration project with very little historical lithium and rare earth exploration.
The region is considered prospective for lithium bearing pegmatites, with field inspection completed by Oceana confirming outcropping pegmatites.
Oceana plans to undertake a first-pass exploration program consisting of:
Detailed geological mapping
Rock-chip sampling and trenching across identified anomalies
Geophysical surveys and soil sampling
Its also worth noting that the company has secured major Chinese chemical manufacture, Ya Hua, as a major anchor investor.
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