IPO Watch: Mining assay tech firm Chrysos headlines a busy week of ASX listings

After a number of weeks where IPO activity has all but disappeared, several stocks are locked in for ASX listings this week, and there may be one larger name making a move on the US as well.

Allup Silica (ASX: APS) is the first company to line up for a tilt at the local market. Raising $5 million at $0.20 per share, Allup is an exploration company focused on the future development of its silica sand tenements located across a number of site locations in Western Australia. Its priority is the development of the ‘Unicup’ project, with an aim to build out exploration and update its Minerals Resource estimations to higher levels of JORC compliance.

Next up, gold explorer Sarama Resources (ASX: SRR) is hoping the recent appetite for precious metals can work in its favour after securing $8 million in fresh funds. Unlike the other names making a debut this week, Samara is completing a dual-listing, featuring already on the TSX. Of its assets, the West African gold explorer owns a 100% interest in the Sanutura Project, located approximately 350km southwest of Ouagadougou, a project area it considers prospective for greenstone terrane and already host to two major gold deposits.

Gold and base metals explorer Solstice Minerals (ASX: SLS) rounds out the third ASX listing to start the week. It is a demerged entity from OreCorp (ASX: ORR), with an extensive tenement holding covering approximately 2,620km2 over four project areas in Yarri, Kalgoorlie, Yundamindra and Ponton. It believes the tenement holding has been largely “under-explored”, citing disjointed tenement ownership and limited funding as prior constraints.

Sierra Nevada Gold (ASX: SNX) and Koba Resources (ASX: KOB) are among the other junior resources explorers eyeing an ASX listing this week.

Sierra is exploring a portfolio of 100%-owned copper and gold projects in Nevada, US, a globally recognised tier-one mining jurisdiction. With assets it deems “drill-ready”, the company has identified multiple targets across five separate projects, with two discoveries picked up thus far, including a “tier-one scale copper-gold porphyry system and a bonanza-grade gold-silver polymetallic epithermal vein system”. Management intends to execute 12,000m of drilling and geophysical programs over the next year.

Meanwhile, Koba Resources is targeting high-grade cobalt, copper and gold projects, with its focus on cobalt considered key amid the transition to green energy. Its projects include the Blackpine Cobalt-Copper and Colson Cobalt-Copper Project located in the Idaho Cobalt Belt, which is recognised as a leading area for cobalt exploration.

Tying in with the resources theme, Chrysos Corporation (ASX: C79) is this week’s largest ASX float. It is involved in the provision of assay services and technology for the mining industry, and was originally developed at the CSIRO, its largest shareholder. It has developed ‘PhotonAssay’, a technology it claims delivers faster, safer, more accurate and environmentally-friendly analysis of gold, silver and complementary elements, and which is currently being used across the world on behalf of many well-known mining giants like Barrick Gold (NYSE: GOLD).

Overseas, Bausch + Lomb (NYSE: BLCO) may become the second-largest US IPO of the year, with the eye care company looking to complete a dual-listing on the NYSE and the TSX. The company, which serves around 100 countries and offers in excess of 400 products, has been spun-off from Bausch Health (NYSE: BHC), and is looking to list with an approximate market cap of US$8.2 billion.

 

Upcoming IPOs

Company Focus IPO size Expected debut  
ASX   Allup Silica (APS) Silica sand explorer $5m 2 May
ASX Sarama Resources (SRR) Gold explorer in Burkina Faso $8m 2 May
ASX Solstice Minerals (SLS) Gold and base metals explorer $12m 2 May
ASX Sierra Nevada Gold (SNX) Gold and copper explorer $12.5m 3 May
ASX Koba Resources (KOB) Cobalt explorer spun-off from New World Resources      $8m 4 May
ASX Chrysos Corporation (C79)          Provision of assay technologies and services $183.5m 6 May
US Bausch + Lomb (BLCO) Contact lenses and eye care products supplier US$788m   6 May
US Austin Gold (AUST) Gold explorer with tenements in Nevada US$13m TBC

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

 

SelfWealth Ltd ACN 52 154 324 428 (“SelfWealth”) (Australian Financial Services Licence Number 421789). The information contained on this web site is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. Taxation, legal and other matters referred to on this website are of a general nature only and should not be relied upon in place of appropriate professional advice.