Advertisement
Advertisement
Advertisement
Only nine companies are ready to brave volatile conditions and all but one are in the resources sector. The amounts being raised are also low, ranging from $2 million to $20 million.
The biggest IPO set for September is Queensland Mining Corporation. After opening its IPO in January, the Sydney-based minerals explorer at last appears ready to list this month. QMC has issued a number of supplementary prospectuses.
Queensland Mining aims to raise up to 20 million dollars to fund its push into the Mount Isa/Cloncurry region of North Queensland.
Its focus is on early cash flow from the mining and processing of shallow oxide deposits. In the medium term it aims for deep drilling of larger, copper-gold deposits.
Queensland Mining is following the same path as last month’s new listings, Ivanhoe Australia and Mt Isa Metals. Those companies are exploring the same region for copper, gold and base metals.
With $5 million cash in hand, Queensland Mining will use the funds raised from the IPO mostly for further exploration, drilling and development of its tenements, which include 47 mining leases.
The share offer, at an issue price of 50 cents each, is expected to close on September 16, with Queensland Mining set to make its ASX debut on the September 30.
Another minerals explorer planning to list in September is WA-based Aluminex Resources. The company was formed in 2004 and is focused on exploring for bauxite at its wholly-owned Wandoo Project, 80km north of Perth.
Supported by Cameron Stockbrokers, Aluminex aims to raise up to $10 million through the issue of 25 million shares at 40 cents each. Investors will also receive one free option for every two shares acquired.
The funds raised from the IPO will mostly be spent on exploring its Wandoo Project, which has a JORC indicated and inferred resource of 50 million tonnes of bauxite. Other focus areas include its nickel projects in Western Australia and its Northern Territory projects, which are seen as prospective for rare earths, gold, base metals and uranium.
The offer is expected to close on September 5, with a planned listing date of the September 15.
Finally, the exception to the trend of resources listings this month is Scholaris International, a developer of education software.
Scholaris aims to raise up to $8 million by issuing shares at 20 cents each, supported by Bligh Capital Partners.
Based in Sydney, the company has licensed its Scholaris Learning Gateway platform to 375 schools across four continents, with over 300,000 students under licence. The company aims to grow the number of students using its online portal to five million within five years.
Funds raised from the IPO will be used to increase the company’s presence in English-speaking markets at home and abroad, particularly in the United States.
Shares in Scholaris are expected to hit the boards on Wednesday, September 3.
The biggest IPO set for September is Queensland Mining Corporation. After opening its IPO in January, the Sydney-based minerals explorer at last appears ready to list this month. QMC has issued a number of supplementary prospectuses.
Queensland Mining aims to raise up to 20 million dollars to fund its push into the Mount Isa/Cloncurry region of North Queensland.
Its focus is on early cash flow from the mining and processing of shallow oxide deposits. In the medium term it aims for deep drilling of larger, copper-gold deposits.
Queensland Mining is following the same path as last month’s new listings, Ivanhoe Australia and Mt Isa Metals. Those companies are exploring the same region for copper, gold and base metals.
With $5 million cash in hand, Queensland Mining will use the funds raised from the IPO mostly for further exploration, drilling and development of its tenements, which include 47 mining leases.
The share offer, at an issue price of 50 cents each, is expected to close on September 16, with Queensland Mining set to make its ASX debut on the September 30.
Another minerals explorer planning to list in September is WA-based Aluminex Resources. The company was formed in 2004 and is focused on exploring for bauxite at its wholly-owned Wandoo Project, 80km north of Perth.
Supported by Cameron Stockbrokers, Aluminex aims to raise up to $10 million through the issue of 25 million shares at 40 cents each. Investors will also receive one free option for every two shares acquired.
The funds raised from the IPO will mostly be spent on exploring its Wandoo Project, which has a JORC indicated and inferred resource of 50 million tonnes of bauxite. Other focus areas include its nickel projects in Western Australia and its Northern Territory projects, which are seen as prospective for rare earths, gold, base metals and uranium.
The offer is expected to close on September 5, with a planned listing date of the September 15.
Finally, the exception to the trend of resources listings this month is Scholaris International, a developer of education software.
Scholaris aims to raise up to $8 million by issuing shares at 20 cents each, supported by Bligh Capital Partners.
Based in Sydney, the company has licensed its Scholaris Learning Gateway platform to 375 schools across four continents, with over 300,000 students under licence. The company aims to grow the number of students using its online portal to five million within five years.
Funds raised from the IPO will be used to increase the company’s presence in English-speaking markets at home and abroad, particularly in the United States.
Shares in Scholaris are expected to hit the boards on Wednesday, September 3.
