- ChemX Materials (CMX) is getting ready to list on the ASX Tuesday, January 18
- This news follows the successful completion of an oversubscribed $8 million initial public offering (IPO), where it issued shares at 20 cents each
- Proceeds from the IPO will be used to fund an upcoming drilling program, expected to start this quarter
- ChemX was suppose to be listing on January 14, however, pushed back the expected listing date to Tuesday
Materials technology company ChemX Materials (CMX) is gearing up to list on the ASX on Tuesday.
This news follows the successful completion of an oversubscribed $8 million initial public offering (IPO), where it issued shares at 20 cents each.
Proceeds from the IPO will be used to fund an upcoming drilling program, expected to start this quarter.
ChemX was suppose to begin trading on January 14, however, pushed back the expected listing date to Tuesday, January 18.
The company owns two exploration licences in the Eyre Peninsula, South Australia, which is prospective for kaolin/halloysite and manganese.
ChemX has developed a process to produce high purity alumina (HPA), which is a critical input for battery technology, and is developing materials to allow the energy transition and decarbonisation process through the development of its HPA technology.
Importantly, ChemX has entered into an agreement to purchase HiPurA processing technology.
“The HiPurA HPA technology is a unique and novel process (that is subject to a provisional patent application) utilising commonly available aluminous chemicals as a feedstock to produce HPA,” the company said in its prospectus.
“The board has significant expertise and experience in both the mining and high purity alumina industries, and shall leverage its commercial expertise and industry relationships in seeking to commercialise the company’s assets.”