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After another slow year for IPOs on the ASX, September is looking like it could be a bright spot. Five different companies are set to list this month, giving IPO watchers a more healthy offering than recent memory provides.
Note that before we get into the thick of it, several companies this year have pulled their listing plans at the last minute.
Just look at Siguiri Gold Corp – it decided not to list on the bourse last month, and its listing date is now set only as “TBA.”
With that out of the way – here’s a rundown on the five companies.
Raptor Resources
- Shares go live: September 4
- Issue price: 20cps
- Capital target: $10M
- What they do: Copper and base metals
- Prospectus
- Ticker: RAP
Raptor Resources is a copper and base metals explorer intending to list later this week, tapping public markets for capital to progress exploration on-site its projects at home and in Canada.
Raptor remains in the process of acquiring Canadian assets from three vendors – Canadian Copper Inc., Puma Exploration, and, Metal Hawk Limited. Metal Hawk (ASX:MHK) is listed on the ASX. Raptor has its eyes on Canadian Copper’s Chester Project. The Turgeon Project and Emu Lake Project are also on its radar. Metal Hawk acquired Emu Lake off IGO Limited (ASX:IGO) in 2023.
Tungsten Metals Group
- Shares go live: September 16
- Issue price: 20cps
- Capital target: $14M
- What they do: Producing ferrotungsten in Vietnam
- Prospectus
- Ticker: TME
Tungsten Metals Group is a unique company – it wants to produce ferrotungsten in Vietnam. This, the company states, makes it the biggest producer outside of China and Russia. The company already has a plant ready to go (per its website) in the Tan Lien Industrial Zone located 50km from a deep sea port and capable of pushing out 16tpd of the material.
Ferrotungsten is an alloy compound used to harden steel and provide steel more resistance to high temperatures. Ferrotungsten is made in an Electric Arc Furnace (EAF) – goliath crucibles so energy-intensive they can only be commercially operated in economies like Vietnam (or China) where costs are cheaper.
Webjet Group (demerger)
- Shares go live: September 23
- Issue price: Not disclosed
- Capital target: Not disclosed
- What they do: One-stop-shop travel booking online brand
For regular market watchers this one mightn’t need too much elaboration. Webjet Limited (ASX:WEB) are demerging Webjet Group, ultimately to the benefit of its business WebBeds, which currently demonstrates superior expansion compared to its usual fare; helping consumers organise trips online.
WebBeds is billed as a “global marketplace for the travel trade.” In between the lines, the company is basically gearing up to have a run at Airbnb.
Ilala Metals
- Shares go live: September 25
- Issue price: 20cps
- Capital target: $8M
- What they do: Uranium and copper exploration in Botswana
- Prospectus
- Ticker: IL1
Exploring for copper and uranium in Africa, Ilala Metals is a two-pronged explorer targeting two mineral commodities widely perceived to become only more important – and in demand – over the coming decades. Copper is used in decarbonisation (read: electrification of everything,) and, uranium’s relationship to clean energy is well-known (just don’t call it “clean energy” around the haters.)
Focusing mainly on Botswana, the company will eventually fire up the rigs to sniff around the globally significant Kalahari Copper Belt (KCB). It will also be targeting sandstones in that country, and, sniffing around a series of known pegmatites in Namibia. While not displayed on its homepage, Ilala is also going to take a crack at lithium.
CleanTech Lithium
- Shares go live: September 26
- Issue price: 30cps
- Capital target: $20M
- What they do: Already-established multinational Chilean lithium explorer
- Prospectus
- Ticker: CTL
CleanTech Lithium is based in Chile where it has digs in the ‘lithium triangle,’ it’s seeking the produce the battery metal with a more robust ESG profile than some of its competitors. Notably, the stock is already listed – on the UK’s Alternative Investment Market (AIM), and, the US-based Over The Counter (OTC) market.
It’s descent onto the bourse down under will mark a more sophisticated move for the company as far as public markets go; both the AIM and OTC are not without their reputation for taking in huddled masses. The company’s real value proposition is that it states it’s advancing the potentially cleaner production route of direct lithium extraction (DLE), a sort of holy grail for lithium miners keen to ensure their battery metal project remains true to a respect for environmental outcomes.
