ASX: RECENT FLOATS & LISTINGS
Koppar Resources (KRX)
NORWAY-focussed junior explorer Koppar Resources (KRX) has performed strongly since its IPO in late May, when it raised $4.5 million at $0.20 per share.
KRX has a conditional right to acquire a number of high value copper-zinc projects in the Trøndelag region of Norway – Løkken, Tverrfjellet, Grimsdal, Illingdal, and Storwartz – through the acquisition of company Koppar Resources Europe.
The KRX ground includes a number of historical mines, some going back to the 1600s, with a combined recorded historical production of 85 million tonnes grading between 1 per cent and 2 per cent copper.
The company is compiling historical data to generate targets for a drilling campaign in Q3 2018.
Bounty Mining (B2Y)
MET coal miner and developer Bounty Mining (B2Y) was admitted to the ASX on Friday 15 June, raising $18m at an issue price of $0.35 per share.
The listing represents a massive turnaround for the company, which entered voluntary administration during the dark days of 2015, before emerging thanks to a $300,000 investment from Garrison Capital.
B2Y now owns Cook Colliery and North Cook project in the Bowen Basin, and the Minyango and Wongai development projects in central and far north QLD.
Since acquiring Cook in late 2017, B2Y has been actively ramping up production toward 2.2 million tonnes per annum (mtpa).
Cook, a premium met coal mine, has benefitted from about $1.3 billion worth of investment from a previous owner between 2011 and 2017.
The $18m raising will be used towards fleet upgrades at Cook; continued prefeasibility studies at Cook North and Minyango; and a BFS at Wongai.
Primero Group (PGX)
PRIMERO (PGX), an engineering group specialising in battery metals, was admitted to the ASX on 6 July, raising $25m at an issue price of $0.40 per share.
Founded in 2011, Primero has delivered more than $230m worth of projects since inception.
Its strong market position in WA servicing the mining, energy and infrastructure sectors is augmented by its battery materials expertise, with current and repeat clients including Tawana Resources, Galaxy Resources and Pilbara Minerals. The company has forecast FY18 revenue of about $80m; up from $52m the previous year.
Civmec (CVL)
DUAL listed, Australian-based Civmec (CVL) officially launched on ASX on 22 June “to strengthen its position in Australia’s fast-growing engineering and construction sector”.
“The ASX listing provides Civmec with an additional platform to broaden its shareholder and capital base, while also building on the excellent support Civmec has received from investors in Singapore, since listing on the Singapore Exchange in April 2012,” Civmec chief executive John Tallon said.
“With our past and current projects predominately delivered by our Australian workforce on Australian soil and our growth prospects mainly focused on the Australian market, we see the ASX listing as a natural move to reinforce our home identity.”