It’s like an advent calendar for mining and exploration IPOs.
Please note that these listing dates are extremely speculative. If you’re interested, contact the company direct for a better idea of when they expect to start trading on the ASX.
COSMOS EXPLORATION (C1X)
Focus: Gold, Copper and Nickel
Tentative Listing Date: 1 Dec
The RareX (ASX:REE) spinoff wants to raise $5m through its IPO. It has two projects: ‘Byro East’ (nickel-copper-PGEs) in WA and ‘Orange East’ (gold) in NSW.
Byro East was pegged by $45m market cap rare earths explorer RareX last year. It is very greenfields — having never been drilled — but Cosmos has identified four areas which could be prospective for Ni-Cu-PGEs.
Based on past exploration work, Cosmos has also identified several gold-copper targets at the small 40sqkm ‘Orange East’ project.
ORANGE MINERALS (ASX:OMX)
Focus: Gold, Copper
Tentative Listing: 3 Dec
Orange, which is looking to raise $7m in an IPO, is hunting for copper-gold in two major regions: Lachlan Fold Belt (NSW) and Eastern Goldfields (WA).
The NSW assets are close to major gold mines like Cadia (43.4Moz). In WA, it has ground within 25km of Lefroy’s (ASX:LEX) ‘Burns’ copper gold discovery (38m @ 7.63g/t gold, 0.56% copper).
A minimum 1,500m of drilling is planned following listing, with maiden resource at ‘Calarie’ gold project in NSW forecast for early 2022.
Focus: Gold, Nickel, Copper, PGEs
Tentative Listing Date: 3 Dec
The FirstAU (ASX:FAU) spinoff wants to raise between $8m and $12m through its IPO. It has lodged its prospectus with ASIC and is seeking to listing on the ASX around 3 December.
It has five projects in WA. Its flagship is ‘Talga’ project in the East Pilbara, a leading exploration location with new discoveries made nearby by Calidus Resources (ASX:CAI) at its ‘Warrawoona’ project and De Grey Mining (ASX:DEG) at Hemi.
The potential targeting of ‘Hemi-like’ intrusions within the East Pilbara projects present an exploration opportunity for 8AU “as both the exploration areas of the Talga JV and Railway Well project are located in a comparable geological environment”, it says.
LARVOTTO RESOURCES (ASX:LRV)
Focus: Gold, Copper, Cobalt, Nickel, PGEs
Tentative Listing Date: 6 Dec
Larvotto is looking to raise up to $6m in an IPO. It has three main projects: ‘Mt Isa’ (copper-gold-cobalt in Queensland), ‘Eyre’ (nickel-gold-PGEs in WA) and ‘Ohakuri’ (gold in NZ).
Mt Isa — acquired from Minotaur Exploration and Rio Tinto — is in a well-endowed, world-class copper and gold region.
Nearby deposits include the Mount Isa Mines Operation (MIM), Ernest Henry, E1, Swan-Mt Elliott, Starra, Osborne, Little Eva, Eloise, Jericho, Barbara, and Kulthor.
Larvotto says the project, although adjacent to the famous MIM operation, has been underexplored using modern exploration techniques.
AMERICAN WEST METALS (ASX:AW1)
Focus: Zinc, Copper, Indium
Tentative Listing Date: 7 Dec
John Prineas-chaired American West wants to raise $11m through its IPO. It has three advanced, high grade base metal projects in Utah focused on copper and zinc; two of which already have significant resource estimates.
The ‘West Desert’ project already hosts a 59Mt historical zinc-copper resource defined under Canadian NI-43-101 standards.
Following admission to the ASX, American West will undertake work to establish a JORC compliant resource – a must-have for ASX listed companies — and will further assess development potential with scoping studies.
The company will also continue exploration across the large and underexplored project area “where high-grade intersections of copper and zinc have already been encountered outside the resource envelope, indicating strong potential for further discoveries”.
RUBIX RESOURCES (ASX:RB6)
Focus: Copper, Nickel, PGEs, Zinc, Gold
Tentative Listing: 8 Dec
Rubix is looking to raise $4.5m in an IPO.
Its key asset is ‘Paperbark’, 25km from the ‘Century’ mine held by New Century Resources (ASX:NCZ) in North Queensland.
Supporting the Paperbark Project are three greenfields (unexplored) projects: ‘Etheridge’ (gold in Queensland) ‘Lake Johnston’ (nickel, copper, PGEs in WA) and ‘Collurabbie North’ (nickel, copper, PGEs in WA).
PANTHER METALS (ASX:PNT)
Focus: Gold, Nickel
Tentative Listing: 10 Dec
WA-based PNT, a subsidiary of London-listed Panther Metals PLC, raised $5m in an IPO.
Initial drilling will take place at the Coglia nickel-cobalt project, where a JORC compliant exploration target of 30-50 million tonnes at 0.6-0.8% nickel and 400-600 parts per million cobalt has already been defined.
The Merolia gold project is also high on Panther’s agenda, with immediate drilling also planned at the ‘40 Mile Camp’ 2.5km by 5km gold anomaly.
RONIN RESOURCES (ASX:RON)
Focus: Gold, Copper, Coal
Tentative Listing: 10 Dec
Colombia-focussed Ronin is looking to raise $5m in an IPO.
The company’s main game is ‘Vetas’: a large, high-grade, thermal coal project containing a JORC Compliant Exploration Target.
The Santa Rosa Project is an earlier stage gold and copper project “located in a prolific artisan mining district”.
HARANGA RESOURCES (ASX:HAR)
Focus: Gold, Uranium, Lithium
Tentative Listing Date: 13 Dec
The African gold, lithium and uranium explorer wants to raise up to $6.5m in an IPO.
‘Saraya’ in Senegal is an advanced-stage uranium-lithium-tin project explored by French Government-owned Areva prior to 2010. That work included an estimated 48,000m drilling.
The project is mainly hosted by granites and pegmatite units which is also prospective for lithium, tin, tantalum and niobium, with spodumene (lithium minerals) having been visually reported.
INFINTY MINING (ASX:IMI)
Focus: Gold, Lithium, Nickel
Tentative Listing Date: 14 Dec
It will have 19 tenements covering 711sqkm in the Pilbara and Central Goldfields.
ARMADA METALS (ASX:AMM)
Focus: Nickel, Copper, PGEs
Tentative Listing Date: 15 Dec
Armada wants to raise between $8m and $10m through its IPO.
It has 2,991sqkm of ground in the Nyanga Province, Gabon which includes several drill-ready nickel-copper targets like ‘Libonga North’, ‘Libonga South’ and ‘Matchiti Central’.
With over U$10m spent on exploration to date, Armada plans to hit these targets hard with drilling over the next two years.
CHEMX MATERIALS (ASX:CMX)
Focus: High Purity Alumina, Kaolin, Manganese
Tentative Listing Date: 20 Dec
ChemX — more advanced materials technology company than aspiring miner– wants to raise $7m through its IPO.
It says it has developed a proven process to produce High Purity Alumina (HPA), a critical input for battery technology.
ChemX plans to develop this ‘HiPurA’ HPA tech, as well as the ‘Kimba’ kaolin-halloysite and ‘Jamison Tank’ manganese projects in South Australia where exploration drilling is scheduled to kick off in Q1 2022.
DMC MINING (ASX:DMM)
Focus: Nickel, Gold
Tentative Listing Date: 22 Dec
WA-based nickel explorer DMC wants to raise $5m through its IPO. It has two projects: ‘Ravensthorpe’ and ‘Fraser Range’.
Ravensthorpe is a nickel and gold project next door to’ (FQM) open-pit nickel mine and the RAV8 sulphide nickel mine. There has been limited historical exploration within the project, DMC says.
The 873sqkm of Fraser Range tenements makes DMC one of the largest junior landholders in the region, which is best known for its company-making Nova nickel discovery.
FALCON MINERALS (ASX:FAL)
Tentative Listing Date: 22 Dec
This hotly anticipated Chalice Mining (ASX:CHN) spinoff will be chaired by Mark Bennett, discoverer of the aforementioned Nova nickel discovery.
Falcon wants to raise between $15m and $30m through its IPO to tackle three projects: Pyramid Hill (VIC), Viking (WA), and Mount Jackson (WA).
Pyramid Hill — CHN’s No 1 focus before it hit the motherlode at Julimar – is highly prospective for high-grade gold deposits like the nearby, world-class Fosterville mine.
Since 2018, CHN has completed ~124km of drilling across the ~5,000sqkm project, defining four large scale prospects.
They include ‘Karri’, which is defined by shallow gold hits up to 34g/t over ~4km of strike, and ‘Banksia’, a giant 10km-long anomaly which returned hits up to 8.7g/t.
ARBARTA RESOURCES (ASX:AB1)
Focus: Gold and Base Metals
Tentative Listing Date: 23 Dec
Arbarta wants to raise between $5m and $7m through its IPO. It has three exploration projects in WA – ‘East Laverton’, ‘England’ and ‘Edward’.
East Laverton sits on~ 1200sqkm of its namesake underexplored East Laverton Greenstone Belt.
Greenstone belts host economic deposits of many minerals — including silver, copper, and zinc — but they are best known for gold.
Edward is also in an area of underexplored greenstone belt on trend to the south of the ‘Marvel Loch’ and ‘Transvaal’ deposits, and ~40km from the Marvel Loch processing facility.
England is next door to the Granny Smith processing facility in Laverton owned by miner Gold Fields. This means any discovery could be developed quickly, it says.
SOLIS MINERALS (ASX:SLM)
Tentative Listing: 24 Dec
The South American copper play is looking to raise $6m in an IPO.
It is already listed on the TSX, so this IPO is designed to “significantly enhance its exposure to investors in the ASX market, which has a dynamic and deep junior resources exploration sector”.
Solis has three large-scale copper exploration projects in Chile and Peru.
The recently acquired ‘Mostazal’ project in Chile has a multi-kilometre porphyry target to be drill-tested this year, underneath a high-grade copper-silver historical resource.
Solis also owns the ‘Ilo Este’ and ‘Ilo Norte’ projects in Peru’s southern coastal copper belt, prospective for porphyry and IOCG discoveries.
VERTEX MINERALS (ASX:VTX)
Tentative Listing: 24 Dec
This gold explorer is looking to raise $5.5m in an IPO. It has four projects: ‘Hill End’ (NSW), ‘Hargraves’ (NSW), ‘Pride of Elvire’ (WA), and ‘Taylors Rock’ (WA).
Hill End is in the region where the Beyers and Holtermann nugget — the largest single piece of reef gold ever discovered — was found. This is the nugg itself:
ANDEAN MINING (ASX:ADM)
Focus: Copper, Gold
Listing: Just before Xmas
Andean (expected code: ADM) seeks to raise up to $7m through its initial public offering that is due to close on 9 December.
Its relatively advanced ‘El Dovio’ copper-gold (with silver and zinc) project in Colombia is a volcanogenic massive sulphide system –deposits that are rich in base and precious metals like copper, zinc, lead, gold, and silver.
Because these deposits tend to ‘cluster’ together, VMS camps – like DeGrussa on Western Australia — can often be mined for a very, very long time.
Nearby VMS projects include producing ‘El Roble’ mine, which has mined ore plus reserves totalling 3.89Mt grading 2.77% copper and 2.44 grams per tonne (g/t) gold, and ‘El Alacran’ (4.8Mt at 1.4% copper and 0.83g/t gold).
El Dovio is also close to other significant mining projects such as AngloGold Ashanti’s 28 million oz gold equivalent (AuEq) ‘Quebradona’ project and Zijin Mining’s 12Moz ‘Buritica’ gold mine. Great neighbourhood.
The post These 18 ASX resources IPOs are due to list in December. EIGHTEEN. appeared first on Stockhead.
Fresnillo (OTCMKTS:FNLPF) Rating Lowered to Sector Perform at Royal Bank of Canada
Fresnillo (OTCMKTS:FNLPF) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in…
Fresnillo (OTCMKTS:FNLPF) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Thursday, The Fly reports.
Several other equities research analysts have also issued reports on the company. Scotiabank reaffirmed a “sector perform” rating on shares of Fresnillo in a research report on Wednesday, October 13th. Jefferies Financial Group lowered Fresnillo from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research lowered Fresnillo from a “buy” rating to a “hold” rating in a research report on Wednesday, January 19th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fresnillo in a research report on Wednesday, September 29th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Fresnillo in a research report on Thursday, October 28th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.00.
OTCMKTS FNLPF opened at $8.60 on Thursday. The business has a fifty day simple moving average of $11.53 and a 200 day simple moving average of $11.51. Fresnillo has a 12 month low of $8.36 and a 12 month high of $16.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.98 and a quick ratio of 4.11.
Fresnillo Company Profile
Fresnillo Plc is a holding company, which engages in the production of gold and silver. It operates through the following segments: Fresnillo, Saucito, Cienega, Herradura, Soledad-Dipolos, Noche Buena, and San Julia. The Fresnillo, and Saucito segments are located in the state of Zacatecas, an underground silver mine.
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The post Fresnillo (OTCMKTS:FNLPF) Rating Lowered to Sector Perform at Royal Bank of Canada appeared first on ETF Daily News.
UK SMEs join forces to drive energy storage innovation
Sodium-ion battery module meets artificial intelligence at testbed to drive technologies to market.
The post UK SMEs join forces to drive energy storage…
Sodium-ion battery module meets artificial intelligence at testbed to drive technologies to market
A trio of SMEs have joined forces to accelerate to market innovations in energy storage.
AMTE Power, Brill Power and Starke Energy are collaborating at a commercial-scale testbed at Harwell Campus in Oxfordshire, England.
They aim to prove three new technologies at a battery energy storage system to be integrated with a solar array operated by the Science and Engineering Facilities Council (STFC) at Harwell Science and Innovation Campus.
AMTE Power develops new battery cell technologies; Brill Power is a spin-out from the University of Oxford which develops intelligent battery management and control technology; and Starke Energy uses artificial intelligence to optimise batteries.
First time deployment
The testbed will demonstrate AMTE’s sodium-ion battery module using Brill Power’s technology and Starke’s energy management system, which links stored energy into the electricity grid and markets.
This is the first time that these technologies are being deployed in a commercially relevant project.
Emma Southwell-Sander from the STFC and manager of the EnergyTec Cluster at Harwell Campus said the project “is a prime example of how Harwell’s EnergyTec cluster is facilitating access to young innovative businesses to a wealth of resources to supercharge their route to market”.
The energy storage system at Harwell is expected to be operational from March and will is intended to run for a minimum of 12 months.
As a benchmark, in the project’s first phase, AMTE Power will deploy lithium-ion cells before switching to use the company’s sodium-ion cell technology in the second demonstration phase of the project.
AMTE’s director of business development John Fox said: “The ability to test our new products in a commercial operating environment is invaluable. Having access to the Harwell site will accelerate the time to market for our new energy storage products.”
Sodium-ion batteries offer an alternative to lithium-ion in those markets where cost is more important than weight or performance: particularly energy storage, network resilience and energy in remote locations. Improvements in competitiveness of energy storage technologies will accelerate the uptake of small-scale renewable sources of electricity generation.
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The commercialisation of sodium-ion technology lags behind Li-ion but offers significant advantages that makes it suited as a solution for static energy storage applications; it uses earth-abundant elements, has long cycle life and intrinsic safety advantages.
Brill Power’s battery intelligence technology will be deployed to ensure optimal battery usage, lifetime, performance, and safety. Real-world data and operating parameters will be collected, which will support further optimisation of the technologies deployed in the demonstrator.
Brill launched its first battery management system last year, which is supported by its proprietary battery monitoring and analytics software platform.
“Brill Power’s battery intelligence technology can improve all aspects of advanced battery systems, including performance, cost of ownership, reliability and safety,” said the company’s chief executive Christoph Birkl.
“This testbed will enable us to integrate our technology with other cutting-edge battery innovations and collect real-world data on a commercially relevant site”.
Starke Energy’s energy management system will integrate the battery system with the local energy network at Harwell.
Using artificial intelligence, it learns how much energy is being produced by renewable sources, and how much is being used to optimise the storage and release of energy across a network of connected intelligent batteries.
Exclusive industry insight: Not all storage solutions are created equal
The project is part of the Interreg North-West Europe STEPS programme that is supporting 40 businesses through, in its first phase, a competitive product enhancement voucher programme – valued at €12.5k each.
AMTE, Brill and Starke were all awarded first phase vouchers in March 2021 and each have benefited from support from Cambridge Cleantech, the UK’s longest-standing membership organisation for the cleantech sector, and the Faraday Institution, the UK’s independent institute for electrochemical energy storage R&D, market analysis and early-stage commercialisation.
This has included tailored testing, introductions to potential end-users and market knowledge to strengthen the competitiveness of their products.
Faraday Institution chief executive Professor Pam Thomas said the energy storage project was “another example of the Faraday Institution acting as convener for partnerships between UK industry, academia and funding organisations as a route to commercialise breakthrough science and engineering to maximise economic value”.
Sam Goodall, head of international projects at Cambridge Cleantech added that the three SMEs “have technologies that can revolutionise the energy storage sector, from AMTE’s Na-ion batteries which remove the need for mineral extraction, Brill Power who make batteries last longer and be more efficient, and Starke’s energy management system which helps optimise the use of the energy and how it is sold together based on AI and IoT”.
The post UK SMEs join forces to drive energy storage innovation appeared first on Power Engineering International.
Alamos Gold: Haywood Lowers Target To $12.75 Following 2022 Guidance
Last week, Alamos Gold Inc. (TSX: AGI) reported its fourth quarter and full-year production results, as well as their 2022
The post Alamos Gold: Haywood…
Last week, fourth quarter and full-year production results, as well as their 2022 to 2024 production estimates.( ) reported its
For the fourth quarter, Alamos Gold produced 112,500 ounces of gold, bringing the full year 2021 production to 457,200 ounces, which was the lower range of guidance. Costs have not yet been finalized but the company says that it is expected to be consistent with their guidance.
The company also provided 2022 guidance, which included expected gold production of 440,000 to 480,000 ounces. Cash costs are expected to be between $875 to $925 per ounce and all-in sustaining costs are to be between $1,190 to $1,240 per ounce. Total capital expenditures will be between $305 and $345 million, while exploration is expected to cost $27 million for 2022.
For the longer run, the company expects these numbers to grow to 460,000 to 500,000 ounces of gold in 2024, with cash costs of $650 to $750 per ounce and $950 to $1,050 of all-in sustaining costs per ounce.
Currently Alamos Gold currently has 13 analysts covering the stock with an average 12-month price target of C$12.46, or a 36% upside to the current stock price. Out of the 13 analysts, 1 has a strong buy rating, 6 have buy ratings, 5 have holds and 1 analyst has a sell rating. The street high sits at C$17.50 or a 91% upside to the current stock. While the lowest price target sits at C$9.98.
In Haywood Capital Markets’ note, they reiterate their buy rating but lower their 12-month price target from C$15 to C$12.75, saying, “lower production and higher costs for 2022,” and that inflation is finally starting to impact the production costs.
For the fourth quarter and full-year production numbers, they came in line with Haywood’s estimates although they note that the full-year production numbers came in the lower half of guidance.
For the companies three-year guidance, Haywood expected 2022 production to be 485,000 ounces, below their high-end figure. While cash costs were expected to be $785 per ounce, lower than their guided number. This is the same for all-in sustaining costs as Haywood expected it to be $1,055 per ounce. Haywood says that this cost increase in 2022, “is due to industry-wide cost inflation as well as temporary higher costs at Mulatos.”
Below you can see Haywood’s estimates versus the company’s guidance.
Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
The post Alamos Gold: Haywood Lowers Target To $12.75 Following 2022 Guidance appeared first on the deep dive.
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