At the beginning of this month, this news service reported that the Australian Securities Exchange (ASX) was bursting at the seams with a new gold rush of mineral explorers lining up to list in September.
Some of these companies are continuing to list, such as Parbo Resources (ASX:PRB), which is listing today (22 September) at 11am AEST with the ticker code ‘PRB’.
But the ASX’s upcoming floats and listings page has changed since Mining.com.au last reported on it.
Normandy Minerals (ASX:NMD), who was expected to list on the bourse on 29 September, is now scheduled to list on 5 October at noon AEST.
Meanwhile, Super Minerals (ASX:S88) no longer has a listing date available, with a date now to be advised.
At the start of the month, Super Minerals was reported to list on 17 September.
Aside from Normandy’s new listing date, only three mining companies are scheduled to list on the bourse next month, representing a significant drop from September’s five — especially when considering Axiant Resources (ASX:AXR) appears to be the only one listed at time of publishing.
October listings for resources companies include Europa Metals (JSE:EUZ) on 1 October, Glencore (LSE:GLEN), and Wiluna Mining (ASX:WMC) on 26 October.
Glencore’s ASX listing is a notable addition to the bourse, given it is the world’s largest mining company by revenue. But it also raises a bigger question: why are new listings declining?
Why junior explorers are turning to the NSX
Listing and then maintaining a listing on the ASX is a notoriously difficult business venture.
Previously speaking to this news service, Province Resources (NSX:PRL) CEO David Frances explained that the ASX is becoming “less attractive” to junior explorers as the rules are becoming “too difficult to navigate”.
Province moved over to the National Stock Exchange of Australia (NSX) after the company was suspended from trading.
Danakali (NSX:DNK) tells a similar story, moving to the NSX in December 2024 after being suspended from trading on the ASX for more than a year and a half.
Danakali Executive Chairman Seamus Cornelius says the NSX was “very welcoming” in the transition, making the listing transfer process simple, fast, and inexpensive.
General listing conditions for the NSX include a minimum of 50 security holders, 25% of issued capital held in the hands of the public, a market capitalisation of at least $500,000, and a nominated adviser from the NSX’s list.
When listing, the NSX doesn’t set a minimum capital raising requirement, in comparison to the ASX’s requirement of a minimum $15 million in market capitalisation or $4 million in net tangible assets.
More recently, Sentinel Exploration (NSX:SOX) has listed on the NSX, joining the other 43 listed companies in April 2026 and becoming one of six mining and resources-focused companies.
Sentinel describes its NSX listing as a methodical approach to exploration and capital allocation, with the benefits of the smaller bourse outweighing those of the traditional ASX, as reported.
Prior to listing on the NSX, the company operated as a publicly unlisted company.
Sentinel Exploration is a resources company focused on advancing the Marda East Gold Project in Western Australia.
Write to Maddison Elliott at Mining.com.au
Main image: Unsplash
