September is shaping up to be a big month on the Australian Securities Exchange (ASX), with five mineral explorers set to list before the month’s end.
A trend appears to be emerging among companies listing on the ASX, with all five explorers focused on gold.
This follows last month’s focus on the clean energy transition, with the listing of WhiteRock Lithium (ASX:WLC) on 24 August, as well as Powerhaus Uranium (ASX:POW) on 25 August.
As of tomorrow, Axiant Resources will be listed on the bourse under the ticker code ‘AXR’. The company will join the ASX at 11am AEST after undergoing a $10 million initial public offering (IPO).
Shares will be issued at $0.20 each, with Argonaut Securities acting as the lead manager for this IPO.
Things are looking up for the company, which is currently under agreement with Core Lithium (ASX:CXO) to acquire a portfolio of gold and base metal projects in the Northern Territory and South Australia.
As reported by Mining.com.au, Core Lithium created Axiant Resources through a spinout, enabling Core to focus solely on advancing its flagship Finniss Lithium Project in the Northern Territory.
Proceeds from the IPO are intended to set Axiant up with working capital, funds to cover asset acquisition costs, and a cash balance for a defined exploration program.
Axiant Resources is spearheaded by Michael Fechner as CEO and managing director, as well as Greg English as non-executive chair and Peter Bewick as non-executive director.
Under similar circumstances, Aventine Resources will be listed on the ASX at noon AEST on 21 September, under the ticker code ‘ARE’.
The company is raising $20 million for its IPO, with shares valued at $0.20 each and Bell Potter Securities acting as the lead manager.
Aventine is an emerging gold-copper explorer that is assembling a portfolio of assets in the Paterson Province and the East Pilbara in Western Australia.
The company says it has a “clear pathway” to acquire around 700km2 of underexplored tenure from Greatland Resources (ASX:GGP).
Aventine’s leadership team comprises Benjamin Dunn as the managing director, along with Allan Kneeshaw as technical and executive director, Simon Andrew as non-executive chair, and Girolamo Giovanni (John) Barbante as non-executive director.
Supercharged for trading
Super Minerals will join the ASX on 17 September at noon AEST, raising $7 million with shares issued at $0.20 each under the ticker code ‘S88’.
GBA Capital and Charles Street Capital are acting as the joint lead managers for this IPO.
Super Minerals is a gold-focused explorer advancing a portfolio of assets, primarily located in southeast New South Wales.
The company’s flagship asset is the Yambulla Gold Project near Eden in New South Wales, which hosts historical ‘high-grade’ workings that have demonstrated mineralisation and exploration upside.
Parbo Resources will join the ASX on 22 September at 11am AEST, using the ticker code ‘PRB’.
The company will raise $5 million through the issuance of shares at $0.20 each, which was fully underwritten with Leeuwin Wealth as the lead manager.
Parbo Resources is a Western Australian exploration company targeting district-scale copper-gold discoveries.
And finally, Normandy Resources will list on the bourse on 29 September at 11am AEST, using the ticker code ‘NMD’.
The company will raise $12 million, with shares valued at $0.20 each. Euroz Hartleys is acting as the lead manager.
Normandy Resources holds around 1,600km2 of consolidated tenements in Western Australia, targeting gold mineralisation.
All five companies joining the ASX have a close focus on gold exploration, reflecting recent market trends.
Gold is trading 12.69% higher over the past month and is up 32.85% year-over-year. The precious metal was trading at US$4,453 ($6,214) per ounce as of today (1 September).
Write to Maddison Elliott at Mining.com.au
Images: ASX
