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Investment Solutions

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Investment Solutions

Features

IPO Watch: Far East Gold, Lord Resources, International Graphite, Top End Energy

Rene Anthony

Saturday, March 26, 2022

Saturday, March 26, 2022

The only floats going at it this week come from none other than the resources sector, but two are tapping directly into the renewables theme

The only floats going at it this week come from none other than the resources sector, but two are tapping directly into the renewables theme

With a lull still hanging over the IPO market, brought on by recent volatile trading conditions, there are just a small handful of ASX floats on the cards this week. In the US, it a barren run for prospective listings, with none coming up this week, and just the one last week.

Far East Gold (ASX: FEG) kicks things off on the ASX this week, set for a debut today after securing $12 million in fresh funds at a price of $0.20 per share. It is also this week biggest listing. The company lays claim to six advanced copper and gold projects, with binding commercial agreements to acquire three projects in Indonesia, and another three in Queensland, Australia. 

Among Far East Gold highlights, the Wonogiri' project in Indonesia boasts 1Moz of gold resource, while the Woyla' Project, previously owned by Barrick and Newcrest, reported bonanza' gold assays of up to 119 grams per tonne earlier this year.

Next cab off the rank is expected to be Lord Resources (ASX: LRD), which is an explorer targeting an array of different minerals including nickel, copper, lithium, gold and platinum-group elements (PGE). It has secured a more modest sum of $4.5 million to fund its exploration activity across five different projects in Western Australia, which cover 99km2 of land.Hoping to play a part in the transition to more sustainable solutions, International Graphite (ASX: IG6) has raised $10 million at $0.20 per share. It is an Australian manufacturing company striving to represent a new source of processed graphite components for green' technologies. Furthermore, the company is developing the first fully-integrated graphite production facility in Western Australia, intending to supply anode material to meet growing international demand for lithium batteries.And lastly, scheduled for the back-end of the week, oil, gas, helium and hydrogen explorer Top End Energy (ASX: TEE) is set to hit the market at an opportune time for stocks in the energy sector given the numerous tailwinds at play. 

While still an early-stage company, Top End Energy is focused on meeting increasing energy demand while minimising its carbon footprint through the delivery of natural gas, renewable end products and clean energy solutions. It boasts projects in Queensland and Northern Territory, and is prioritising a net-zero emissions target and supplementary revenue streams by way of clean energy generation and the commercialisation of renewable end products.

Upcoming IPOs

CompanyFocusIPO sizeExpected debutASX  Far East Gold (FEG)Gold and copper explorer$12mMar 28ASXLord Resources (LRD)Nickel, copper, lithium, gold, PGE explorer  $4.5mMar 30ASXInternational Graphite (IG6)  Graphite producer and supplier$10mMar 31ASXTop End Energy (TEE)Oil, gas, helium and hydrogen explorer$6.4mApr 1

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

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