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ASX Resource IPOs for Investors to Watch in 2022
Mar. 23, 2022 09:30AM PST
What ASX resource IPOs should investors know about this year? Here’s a look at the companies that will debut in 2022.
Like many industries, the resources sector faced some challenges with the global pandemic, but it did not stop established companies and even newer ones from pressing through.
Due to the war in Ukraine in the midst of the world’s post-pandemic recovery, prices for resources have skyrocketed as countries scramble to change trade agreements to keep food on shelves and fuel in engines. That said, with the shifting in resource demand and continued advancement in green technologies, the future of the Australian mining sector is hopeful.
So far this year, the ASX has welcomed eight new resource companies including Cosmo Metals (ASX:CMO), Felix Gold (ASX:FXG) and Haranga Resources (ASX:HAR).
Cosmo Metals is focused on exploring the Yamarna Belt in Western Australia, while Felix Gold has its sights on the Alaskan Tintina Gold Province. Haranga is set on its two main projects: the Issia gold project in Côte d’Ivoire and the Saraya uranium project in Senegal.
What are some upcoming ASX Resource initial public offerings investors should look out for? Here the Investing News Network looks at the upcoming listings under the materials sector in 2022. Data was up to date as of March 31, 2022, with companies listed in alphabetical order.
1. Finder Energy
Proposed listing date: April 8, 2022
Finder Energy, established in 2004, is an oil and gas exploration company based in Perth, South Australia. The company has two major projects in two world-renowned hydrocarbon regions: Australia’s North West Shelf and the UK’s North Sea. Finder Energy holds five exploration permits and five sea production licenses, respectively. The Kanga-1 prospect off the coast of Australia is scheduled to begin preparations for drilling in May 2022.
Finder had hoped to raise at least AU$15 million at an issue price of AU$0.20 per share for a total of 75 million new shares. Last week the company successfully reached its goal and is looking to list on the ASX on April 8.
2. Koba Resources
Proposed listing date: April 27, 2022
Koba Resources is a spin-off of Australian mineral development company New World Resources. Incorporated by New World in May of 2021, Koba is a new entity that will focus on the exploration and development of copper and gold projects with a primary focus on cobalt. Main projects include exploration in the US’ Idaho Cobalt belt in Idaho and Nevada.
Koba is hoping to raise at least AU$8 million at an issue price of AU$0.20 per share for a total of 40 million new shares.
3. Lithium Plus Minerals
Proposed listing date: April 26, 2022
Incorporated on September 10, 2021, to acquire and develop lithium projects, Lithium Plus Minerals has over 19 confirmed pieces of land. Lithium Plus has two fully-owned projects in the Northern Territory, Australia: the Bynoe Project and the Arunta Project which cover a span of 1,575km2. The Bynoe Project neighbors Core Lithium’s (ASX:CXO) Finniss Project.
Lithium Plus is hoping to raise at least AU$10 million at an issue price of AU$0.25 per share for a total of 40 million new fully-paid, ordinary shares.
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Securities Disclosure: I Marlee John, hold no direct investment interest in any company mentioned in this article.
