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It’s been a fairly glum November after what was a pretty decent October underpinned by geopolitical macro, but ever since we learned that Australian CPI (inflation) is set to stay higher than expected – meaning no more rate cuts, especially after we saw the unemployment rate fall last week – it’s been hard for the Aussie market to stage an American style rally (as ever.)
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Not helping matters is that we’ve seen some pretty big names have rough spots – most notably blood plasma giant CSL Ltd, and the ASX’s biggest constituent by market cap, Commonwealth Bank.
But there’s at least one thing to be excited about – all cards in order, by December 1, the second half of November is set to see no less than five companies list on the Aussie bourse in fresh IPOs. December’s not looking too bad either, but who’s listing this month?
(Note: there’s an upcoming float for an NZ-based AI software player called ‘Black Pearl Group’ listed on the ASX IPO webpage, but it’s got no real meaningful available IPO data at this time so I haven’t included it; so too is the case for Trade Window Holdings, which appears to be an NZ-based logistics software player.)
Black Horse Mining Ltd – Fri 21 November
- Sector: Mining
- Upcoming ticker: BHL
- Issue Price: 20cps
- Raising target: $8M
Black Horse Mining holds a 51% stake in the Mt. Egerton gold mines in VIC’s Ballarat region; the historical assets can become 80% owned by Black Horse when it spends $4M over 5Y on exploration and development.
In its heyday, Mt. Egerton produced over 1Moz of gold and is believed to be situated on prime geology with more left in it; worth noting is the mine was ditched all the way back in 1906 due, ultimately, to flooding issues.
Black Horse reports on its website that little exploration has been undertaken in the last two decades, also noting recent approvals from the VIC government in the region reflect the first granted in nearly 20 years (according to Black Horse.)
Equus Energy Ltd – Mon 24 November
- Sector: Oil & Gas
- Upcoming ticker: EQU
- Issue Price: 20cps
- Raising target: $15M
Earlier this year, Equus Energy acquired 100% of the shares in Western Gas Corporation (WGC), which held the Equus Gas Project offshore WA. Located in the North West Shelf (NWS) region, Equus will be joined by neighbours like Chevron, Exxon and Woodside.
Located adjacent Woodside’s Scarborough gas project, Equus Energy reports on its website that its self-named project has a 2C Contingent Resources of 1.7Tcf of gas and 38MMbbl of condensate.
The company is ultimately seeking to establish a new exporting LNG asset offshore WA for sales into domestic and overseas (read: Asian) markets.
Sea Forest Ltd – Wed 26 November
- Sector: Agritech
- Upcoming ticker: SEA
- Issue Price: $2.00/sh
- Raising target: $20.5M
Sea Forest Ltd’s ultimate goal is to improve ESG metrics when it comes to methane reduction in livestock farming by providing seaweed-based supplements to farms for feed.
With a website heavily focused on providing solutions for climate change, Sea Forest’s key product is called ‘SEAFEED,’ and it’s sourced offshore Tasmania using native seaweed asparagopsis.
“We’re in the business of cultivating Asparagopsis and formulating scientifically proven methane abating feed supplements which create a unique synergy between natural and manufactured solutions which are both good for the animals and good for the planet,” Sea Forest writes on its website.
Moonlight Resources Ltd – Fri 28 November
- Sector: Mining
- Upcoming ticker: ML8
- Issue Price: 20cps
- Raising target: $10M
Moonlight Resources is a multi-focused explorer seeking exposure to “gold and REE-uranium” discoveries in Australia. To date, the company has two key assets.
The first is the Clermont Gold Project (CGP) located in QLD, for which Moonlight hopes to rapidly bring to the fore a maiden JORC MRE for the project. The play was acquired off Diatreme Resources, also publicly listed.
The second is the NT-based MacDonnell Ranges Project (MDRP) which is prospective for rare earth elements and uranium; the company acquired the play off of publicly-listed Lithium Plus Minerals.
The 3,044sq.km project is reportedly located near a well-known NT uranium province called the Teapot Granite Complex and geotechs believe early-stage exploration works have potential due to what is believed to be a shallow-depth mineralised system.
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