Helix Resources’ (ASX:HLX) wholly owned subsidiary, Ionick Metals, has released its business plan ahead of its proposed initial public offering (IPO) and ASX listing in 2024.
Speaking to Mining.com.au, Helix Chairman Mike Rosenstreich says Ionick represents an Australian-focused, ‘large-scale’, and advanced nickel-cobalt development opportunity.
The Chairman notes the upcoming IPO, via an in-specie distribution, comes at a time of a ‘strong’ market outlook for nickel fuelled by increased battery demand.
Rosenstreich says laterite projects in New South Wales offer a unique opportunity to generate the scale of nickel production over long timeframes, therefore attracting the attention of resource majors and end-use customers.
Ahead of the Ionick IPO, Helix executed an option agreement with fellow ASX-listed explorer Alchemy Resources (ASX:ALY) to acquire the latter’s 80% joint venture (JV) interest in the West Lynn Project in New South Wales, as reported in November.
Helix said the agreement with Alchemy supports its strategy of achieving a Mineral Resource Estimate (MRE) greater than 80 million tonnes (Mt).
Helix Resources is ‘all-in on copper exploration’ and focused on making discoveries in the producing region of Cobar, New South Wales.
As of 30 September 2023, the company had $4.2 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Helix Resources
