IPO

Upcoming ASX IPOs: Tabcorp demerger, nickel and lithium explorers

Mon 23 May 22, 11:32am (AEST)
IPO 7 - IPO composed of wooden letters with stacks of coins in the background
Source: iStock

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Key Points

  • 5 scheduled listings for this week
  • Nordic Nickel has 2 projects located in Finland
  • Oceana Lithium has exposure to two highly prospective projects in the lithium bearing regions of Brazil and the Northern Territory

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

The Lottery Corporation

  • 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."

2022-05-22 18 24 52-Window
(Source: Tabcorp)

You can read more about the Lottery Corp here.

Wednesday

Bellavista Resources

  • 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:

  • Brumby Project

    • 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

location-map-1200x623
Source: Bellavista Resources Prospectus (2022)

Nordic Nickel

  • 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.

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Source: Nordic Nickel prospectus

Pulju Project

  • 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

Thursday

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) 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.

Friday

Oceana Lithium 

  • Lithium explorer

  • 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

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Source: Oceana Lithium prospectus

#2 Napperby Lithium Project

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.

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Source: Oceana Lithium prospectus

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.

Ya Hua has made strategic investments and offtake agreements with various ASX-listed battery metal companies including Core Lithium (ASX: CXO), Eastern Iron (ASX: EFE) and Jadar Resources (ASX: JDR).

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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