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IPO Wrap: Two lithium listees called Patriot, both aiming for a slice of the North American lithium market
Two lithium explorers with Patriot in their names are gearing up to list in North America – one in the … Read More
The post IPO Wrap: Two lithium listees…
- Patriot Lithium has projects in South Dakota and Arizona and Matt Gauci at the helm
- Patriot Battery Metals is backed by Ken Brinsden and has a large landholding in Canada
- Oh and there’s 12 other companies listing before Christmas
We’re going to jump ahead to December for a hot minute because two lithium explorers with Patriot in their names are gearing up to list in North America and tbh it could be a saga in the making.
Patriot Lithium (ASX:PAT) is listing on 5 December with an IPO $10m at $0.20 and a focus on the Blacks Hills hard rock lithium project in South Dakota and the Wickenburg lithium project in Arizona.
The Black Hills region of South Dakota is a globally prolific high-grade, hard rock lithium district and hosts some of the largest and highest grade spodumene crystals globally – up to 14m in length – and boasts some of the highest-grade concentrates in the world at ~6% Li2O.
Plus, there’s some big names in the management team. Non-exec chairman Philip Thick used to head up Tianqi Lithium Australia, a subsidiary of Tianqi Lithium Corp, one of the world’s largest lithium companies.
And executive director Matthew Gauci previously built one of the Pilbara’s largest lithium exploration portfolios, which was eventually sold to SQM, one of the world’s largest lithium companies.
Thick told Stockhead that there are a lot of spodumene crystals at surface right across the area that are around 1-2m and “if you have this evidence at the surface, there’s a high chance you are going to find something at depth as well.”
The company is planning to kick off mapping and sampling and put in applications for drill permits post-listing.
And not to be confused with Patriot Lithium, a completely different similarly named lithium company called Patriot Battery Metals (ASX:PMT) is listing just two days later on 7 December with an IPO of $4.2m at $0.60.
Instead of the USA they’re focused on James Bay in Quebec. Stockhead’s deputy editor Reuben Adams says “there must be more Aussies in James Bay than Australia by now” and he could be on to something there.
The company has managed to nab ex Pilbara Minerals (ASX:PLS) MD Ken Brinsden in a flash new role as chairman and director.
Brinsden basically led the rapid development of PLS from junior explorer to become one of the world’s leading lithium raw materials players and got it to the ASX 100.
Patriot Battery Metals has a 214km2 tenement package at its Corvette property in the region, and says in excess of 70 lithium bearing pegmatite outcrops discovered over 20+ km trend with additional 20+ km of trend remaining to be assessed and a 20,000m drilling program underway.
Time will tell who will be the better patriot… but 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.
Back to our usual programming – here’s who’s listing this week:
Nightingale Intelligent Systems (ASX:NGL)
Listing: 18 November
IPO: $6m at $0.22
This company develops and sells Unmanned Aerial Vehicles (UAVs) or drones for commercial applications – and there’s a bunch of them.
NGL says its tech has applications across solar farms, ports, O&G facilities, critical infrastructure like dams and power stations, in construction, border patrol, securing pipelines, fire and oil spills along with search and rescue, crowd control and for prisons.
Basically, the drones can respond to a threat; when a security alarm is triggered the system automatically dispatches a drone to the alarm location and streams live video to the security team.
These are the companies listing in late November:
Tiger Tasman Minerals (ASX:T1G)
Listing: 21 November
IPO: $8m at $0.20
Tiger Tasman Minerals has projects in WA and QLD focused on copper, lithium, nickel, manganese, silver, gold, base metals and industrial minerals (DMM) essential to the global clean energy transition, decarbonisation and a more sustainable future.
The projects are in proven and prospective jurisdictions including Paterson Province, Fraser Range, Earaheedy Basin, Ashburton and the Townsville region.
The Iron Skarn silver-copper-lead-zinc project (QLD), the Copper Canyon copper-gold project (WA), the Fraser Range lithium-nickel-copper project (WA), the Mt Minnie manganese project (WA), and the Crater copper-zinc-lead-silver-gold project (WA).
Listing: 22 November
IPO: $32.5m at $0.20
This resources player is focused on developing a gold platform in West Africa.
The company is primarily focused on the development of the Kobada Gold Project in Southern Mali, which has a global resource base of over 2.3 Moz of gold and the potential to produce more than 100,000 ounces of gold per annum.
Listing: 22 November
IPO: $7m at $0.20
This explorer is focused on high-demand battery minerals including lithium, nickel, cobalt, copper and PGEs, with four project areas in WA.
Its main focus are the Dundas licences – in particular the Dundas South project which is in close proximity to Alliance Mineral Assets’ (ASX:A40) Bald Hill lithium and tantalum project, Greenstone Resources’ (ASX:GSR) Mt Thirsty cobalt-nickel project and Liontown Resources’ (ASX:LTR) Buldania/Anna lithium project.
Listing: 29 November
IPO: $6m at $0.20
The Argonaut Resources (ASX:ARE) spinout was established to explore for and discover greenfield uranium deposits in South Australia and the Northern Territory at economic grade and scale.
And the focus is exploring around approved and operating (or recently operating) uranium mines because these are also the jurisdictions considered to have high prospectively for economic uranium deposits and have the regulatory systems at both state and federal level supportive of the development of new uranium mines.
They have four projects in the NT – Woolner, Ranger North-East, Mt Douglas and T-bone – and two projects in SA – Frome and Cummins.
You can read more about what their MD Simon Mitchell told Stockhead’s Josh Chiat about benefiting from crusty geos looking for uranium in the desert 50 years ago here.
Source Certain International (ASX:SC1)
Listing: 30 November
IPO: $7m at $0.20
SC1 provides a scientific provenance verification service for agriculture, seafood, mining and resource sectors.
SC1 says scientific analysis of physical product samples allows clients to mitigate risk, validate digital data, protect their brand and support transparency within their supply chains.
The company’s origin verification solution is able to identify the mine, farm, fishery or plantation from which a product originated.
Richmond Vanadium Technology (ASX:RVT)
Listing: 30 November
IPO: $35m at $0.40
The company is advancing the Richmond Vanadium Project in Queensland, and plans to kick off a Bankable Feasibility Study after listing.
The project is the largest non-titanomagnetite vanadium deposit of its kind (soft marine sediments) globally – and the company says it can produce a significant supply of vanadium for the steel and emerging energy storage markets over a 25-year initial life of mine (LOM).
Not to mention that vanadium is listed by the Australian Government as a critical mineral and in November 2021 the Queensland Government announced it will contribute “at least” $10 million towards constructing a vanadium common-user facility (VCUF) to process vanadium from the state’s vast deposits, allowing multiple small mining operations to access the facility with the ambition of kickstarting downstream battery storage industries in the state.
RVT is included in a panel helping to determine the Queensland Government’s VCUF Future User Engagement Protocol.
Who’s listing before Xmas?
Listing: 2 December
IPO: $10m at $0.20
Taiton’s projects include the Lake Barlee gold project in WA, the Highway polymetallic project in SA, and the Challenger West gold project also in SA.
The company believes its dominant land holding at the Highway Project will allow them to potentially uncover the Next Elephant Deposit in Australia.
Taiton will be undergoing a series of grassroots exploration and also several walk-up drilling targets.
Listing: 7 December
IPO: $7m at $0.20
Development, mining, physical processing and marketing of high-purity quartz (HPQ) feedstock, a vital ingredient in the solar panel, semiconductor, and other high tech industry sectors.
Greentech has identified quartz vein deposits on its tenements near Mount Isa in northwest Queensland and plans to use its IPO funds to complete a feasibility study and has contracted a series of bench-scale sorting, processing and beneficiation trials by two leading international HPQ specialist firms to optimise product quality and price for its quartz.
Results from these trials should be available before the end of 2022, with the plan to produce and sell HPQ feedstock within the next 12-18 months.
The company has also secured a preliminary offtake agreement to supply a minimum of 5000 tonnes of HPQ feedstock per annum to Jiangsu Yangshan Silicon Materials Technology Co Ltd in China.
Northam Resources (ASX:NRL)
Listing: 16 December
IPO: $9m at $0.25
Northam Resources Ltd owns a regional-scale exploration portfolio 95km east of Perth in Western Australia’s Wheat Belt region.
And it’s the largest exploration portfolio located between Chalice Mining (ASX:CHN) Julimar project and Anglo American’s Southwest Yilgarn Exploration Project.
The package consists of 24 exploration licences over 1590km2 (the Kauring, Mount Joy, Ragged Rock, and Yerecoin North projects) with a total 190km strike length of prospective geology including numerous mafic/ultra-mafic intrusive complexes – the host rocks for Ni-Cu-PGE intrusive style mineralisation.
The company is planning a 6,600m air core drilling program post listing.
Listing: 16 December
IPO: $12m at $0.20
DeSoto holds the Pine Creek project in the Northern Territory’s prolific Pine Creek gold and pegmatite province.
The company’s six granted licences will cover 1,467km2 and three licence applications cover 420km2.
Historical drilling has identified gold mineralisation hosted but there has been no lithium exploration conducted in the Project area – which DeSoto sees as a “significant” opportunity.
They also take encouragement from the fact that Core Lithium (ASX:CXO) recently acquired ground adjacent to the Pine Creek Project and is now exploring for lithium across the Project area.
Mackerel Metals (ASX:MKM)
Listing: 16 December
IPO: $10m at $0.30
This Zenith Minerals (ASX:ZNC) spin out is focused on the gold exploration tenements of Split Rocks, Red Mountain and Cowarra with the base metal assets of Develin Creek (copper/zinc) and the 25% share of the Earaheedy (lead/zinc) project in Western Australia.
The funding will be used to develop the projects, of which the company says Earaheedy, Develin Creek and Split Rocks have ‘advanced status’.
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