IPO

Upcoming ASX IPOs: Uranium, copper, nickel and gold explorers

Mon 06 Jun 22, 11:20am (AEST)
IPO 12 - Businessman hand holding IPO (Initial Public Offering) word with wooden cube block
Source: iStock

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Key Points

  • 4 IPOs scheduled for this week
  • All the IPOs this week are small cap mineral explorers

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

Uvre* 

  • Uranium, vanadium and battery metals explorer

  • Raising $6m at 20 cents

  • Market cap of $7-8m

  • Lists at 11:00 am

  • Lead manager issued 2.5m options

Uvre (ASX: UVA) is an "energy and new world minerals" explorer, operating the East Canyon Project in Utah, United States.

The Project is currently prospective for uranium and vanadium, with historic rock chip samples returning uranium grades between 0.19% to 2.29%. For perspective, the average grade of mined uranium deposits around the world sit around 0.10%, according to 92 Energy (ASX: 92E).

Uvre has identified priority drill exploration targets and plans to commence drilling activities shortly after its IPO.

Wednesday

Kingsland Minerals

  • Uranium, copper and gold explorer

  • Raising $5.5m at 20 cents

  • Market cap of $52-58m

  • Lists at 12:00 pm

  • Lead manager issued 1.8m options 

Kingsland Minerals (ASX: KNG) is an early-stage explorer with several projects, all of which are in the Northern Territory except Lake Johnston:

  • Allamber Uranium and Copper Project

  • Shoobridge Uranium and Gold Project

  • Woolgni Gold Project

  • Mt Davis Copper and Gold Project

  • Lake Johnston Nickel and Copper Project

2022-06-06 10 21 51-Prospectus-Kingsland-Minerals-Ltd
Source: Kingsland Minerals prospectus

Kingsland has allocated $1.13m (assuming minimum subscription) in its first year of exploration post IPO. Approximately 42% of its proposed exploration budget is allocated towards the Allamber Project.

Southern Palladium 

  • Advanced stage platinum group metals (PGM) explorer

  • Raising $19m at 50 cents

  • Market cap of $42-45m

  • Lists at 11:00 am 

  • Lead manager to receive fees in cash

Southern Palladium (ASX: SPD) has a 70% interest in a South African private company, which operates the Bengwenyama Project.

A recent JORC compliant inferred mineral resource of 18.8m oz for platinum, palladium and gold has been estimated for the project.

The company has planned a diamond drilling programme over 2 phases, targeting milestones including:

  • Infill drilling at the shallowest portion of the deposit to upgrade mineral resource confidence to indicated

  • Widely spaced drilling to improve the confidence of the entire project area and allow for more accurate longer-term life of mine planning

2022-06-06 10 54 57-ProspectusandPreListingStatement
Exploration Program Schedule (Source: Southern Palladium Prospectus)

Thursday

 None

Friday

Cavalier Resources 

  • Gold and nickel explorer

  • Raising $7m at 20 cents

  • Market cap of $8-10m

  • Lists at 11:00 am 

  • Lead manager issued $4m shares

Cavalier Resources (ASX: CVR) is a WA-based explorer with controlling interests in the Leonora Gold Project, Hidden Jewel Gold Project and Ella's Rock Nickel-Gold Project.

2022-06-06 10 59 59-Prospectus - Mining - IPO
Source: Cavalier Resources prospectus

Leonora consists of two sub-projects, Crawford and Gambier Lass North. The Crawford Gold Despite includes a 101,000 oz JORC compliant Mineral Resource.

Post-IPO milestones include:

  • Explore economic viability of Crawford deposit (studies include flora and fauna surveys, metallurgy, groundwater hydrology etc.)

  • Air-core drilling and follow-up RC drilling at Crawford

  • Geophysical surveys at Hidden Jewel

  • Geophysical surveys at Ella's

 

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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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