Key takeaways:

• Lithium is a key sight among December IPO cohort heading to the ASX

• Decarbonisation and critical minerals needs continue to resonate with IPO investors

It a frantic rush to the finish line for the final batch of IPOs in 2022. As many as 13 new listings could hit the boards of the ASX in December, with commodities again the dominant theme.

Tourism Holdings Rentals (ASX: THL) is all set for a dual-listing. With a history on the NZX dating back to 1986, this campervan sale and hire company is making its debut on the ASX to tap into more capital. It's no small player, dominating the ANZ region and claiming second place in North America. They're all about RV campervans, and they mean business.

Patriot Lithium (ASX: PAT) is rocking the IPO scene with $10 million raised at $0.20 per share. Their focus? The Black Hills and Wickenburg projects in the US. The Black Hills are legendary for hard rock lithium, boasting some of the world's highest-grade concentrates. They're ready to dig deep, literally, and get some high-grade spodumene.

Tiger Tasman Minerals (ASX: T1G) is on the prowl for $8 million in IPO funds. Why? To fuel their feasibility study at the Iron Skarn polymetallic project, and they're eyeing a multi-commodity approach to ride the decarbonization wave. With a valuation of $12.5 million at listing, they're all about versatility.

Patriot Battery Metals (ASX: PMT) is not to be overlooked. Their $4.2 million IPO was at $0.60 per share, and they're diving headfirst into lithium exploration in Quebec, Canada's James Bay region. They're drilling their way to new opportunities, with a 20,000-meter program in full swing.

Mackerel Metals (ASX: MKM) is making waves as Zenith Minerals' spin-off, focusing on gold and base metals. They're angling to raise up to $10 million for a treasure hunt across ten projects in Australia. From zinc to copper, they're chasing the riches underground.

Patagonia Lithium (ASX: PL3) is electrifying the market with a slice of the Lithium Triangle pie. Think 40% of the world's lithium products. They're all about low-cost brine operations in this hotspot. With 23 square kilometers of prime land, they're out to strike lithium, borates, or base metals.

ACDC Metals (ASX: ADC), not to be confused with the rock band, has its sights on heavy mineral sand assets. With a $0.20 per share IPO aiming to net $8 million, they're gearing up for exploration in Victoria. Rare earth elements are on their radar, and they're bringing technology into the mix.

Greentech Minerals (ASX: GTM) is making moves with a focus on high-purity quartz. Why? Because it's a key ingredient in semiconductors and solar panels. They're set on mining, processing, and delivering top-notch quartz feedstock. China's onboard with a preliminary offtake agreement.

The year-end rush brings a backlog of listings. Desoto Resources (ASX: DES), Orpheus Minerals (ASX: ORP), Taiton Resources (ASX: T88), Richmond Vanadium Tech (ASX: RVT), and Source Certain International (ASX: SC1) are holding on for their moment in the IPO spotlight. Gold, lithium, uranium, minerals, and analytical services - there's something for everyone in this lineup.

Upcoming ASX IPOs

1. Tourism Holdings Rentals (THL)

   • Focus: Global tourism operator

   • IPO Size: Not available

   • Expected Debut: December 2

2. Taiton Resources (T88)

   • Focus: Early-stage gold explorer

   • IPO Size: $10 million

   • Expected Debut: December 2

3. Patriot Lithium (PAT)

   • Focus: Hard rock lithium exploration

   • IPO Size: $10 million

   • Expected Debut: December 5

4. Tiger Tasman Minerals (T1G)

   • Focus: Critical minerals explorer

   • IPO Size: $8 million

   • Expected Debut: December 6

5. Richmond Vanadium Tech (RVT)

   • Focus: Vanadium exploration

   • IPO Size: $35 million

   • Expected Debut: December 7

6. Patriot Battery Metals (PMT)

   • Focus: Lithium and battery metals

   • IPO Size: $4.2 million

   • Expected Debut: December 7

7. Orpheus Minerals (ORP)

   • Focus: Uranium deposit exploration

   • IPO Size: $6 million

   • Expected Debut: December 9

8. Desoto Resources (DES)

   • Focus: Gold and lithium exploration

   • IPO Size: $12 million

   • Expected Debut: December 16

9. Mackerel Metals (MKM)

   • Focus: Base and precious metals

   • IPO Size: $10 million

   • Expected Debut: December 16

10. Patagonia Lithium (PL3)

    • Focus: Lithium exploration

    • IPO Size: $8 million

    • Expected Debut: December 19

11. CDC Metals (ADC)

    • Focus: Heavy mineral sands explorer

    • IPO Size: $8 million

    • Expected Debut: December 19

12. Greentech Minerals (GTM)

    • Focus: High-purity quartz explorer

    • IPO Size: $7 million

    • Expected Debut: December 20

13. Source Certain International (SC1)

    • Focus: Forensic & analytical services

    • IPO Size: $7 million (TBA)

*All dates are subject to change and should be treated as an indicative guide only

November ASX IPOs

1. Nightingale Intelligent Systems

   • Code: #NGL

   • Focus: Unmanned Aerial Vehicles for commercial applications

   • Opening Day Performance: -30% to -40%

2. Toubani Resources

   • Code: TRE

   • Focus: West African gold exploration

   • Opening Day Performance: +15%

3. Lightning Minerals

   • Code: L1M

   • Focus: Battery minerals exploration

   • Opening Day Performance: +20%

#Monthly results are for the period from listing until the close of trade, November 30, 2022