Barkly Rare Earths (ASX:BAK) has begun trading on the Australian Securities Exchange (ASX) after completing an $8 million initial public offering (IPO) at the end of last week (30 January).
The company’s IPO was underwritten by Leeuwin Wealth, who also acted as a joint lead manager with Cumulus Wealth.
Funds raised from the IPO will be used to conduct drilling at its wholly owned Barkly Rare Earths Project in the Northern Territory.
Drilling will cover an initial 10,000m for 400 shallow drillholes in phase one. The campaign will begin in March 2026.
Barkly’s immediate focus in this drilling campaign is to expand the existing inferred resource estimate, focusing on growing the estimate and enhancing the project’s scale.
Currently, the Barkly Project hosts an estimate of 40 million tonnes @ 2,100 parts per million total rare earth oxide (TREO) for 82,000 tonnes of contained TREO. This estimate is contained within 6% of the project’s total landholding.
Managing Director Craig Wright says the company has been “laser-focused on creating an Australian company of global consequence”.
“The funds from the listing will allow us to aggressively pursue an expansion of the inferred mineral resource within a very large drilling target,” Wright says.
“The appointment of globally renowned metallurgist Gavin Beer to the board of directors allows the team to drive towards developing processing solutions at Barkly to complement our growing resource.”
This IPO follows global concern for rare earths projects, as US President Donald Trump’s government intends to abandon price floors for critical minerals projects, removing the guarantee of a minimum price, as reported by Mining.com.au.
Barkly Rare Earths is an Australian mineral explorer focused on uncovering economic rare earths deposits.
Write to Maddison Elliott at Mining.com.au
Images: Barkly Rare Earths
