Unity Metals (ASX:UM1) has begun trading on the Australian Securities Exchange (ASX), following completion of an initial public offering which raised $8.66 million at $0.20 per share.
The gold-focused explorer has a Southeast Asia portfolio of projects covering 700km2 in Cambodia and Thailand. Unity’s flagship Ngot Project in Cambodia, sits 2km south of and in the same geological setting as Emerald Resources’ (ASX:EMR) Okvau Mine.
Managing Director Craig Mackay says the ASX listing is an important milestone for the company, following several years of intensive fieldwork.
“The company is finally able to drill numerous targets at Ngot, tantalisingly close to one of the best gold mines owned by an ASX-listed company,” Mackay says.
“These targets have never been drilled by any explorer and offer some of the best discovery potential I have seen in my 38 years of experience in the industry.”
Unity intends to use the funds raised from the IPO to conduct a 50-hole for 8,000m drilling program within Ngot. The first rig will be mobilised to site in the coming days, and drilling is anticipated to begin within a week.
The first round of assays are expected this current quarter.
Subsequent to starting drilling at Ngot, Unity will conduct a fieldwork program at the O’Phlay Project. Pending these results, drilling at O’Phlay will begin in Q2 2026.
In Thailand, activities will primarily be field reconnaissance work, which is not expected to begin until the second half of 2026.
Unity’s Thailand portfolio contains the Loei Copper-Gold Project, located 400km northeast of Bangkok, which covers 193.3km2 and hosts numerous epithermal gold and porphyry copper-gold deposits. The area remains largely unexplored.
Unity Metals is a Southeast Asian junior explorer focused on gold and copper discoveries.
Write to Aaliyah Rogan at Mining.com.au
Images: Unity Metals
