IPO Watch
IPO WATCH: Recent ASX listings and those companies scheduled to list soon.
RECENT LISTINGS
Strata-X Energy Ltd
ASX code: SXA
Listing Date: 12/3/13
Opening Price: 33 cents
Closing Price: 35 cents
Toronto Venture Exchange-listed Strata-X Energy Ltd. (TSX.V: SXE) listed on the Australian Securities Exchange this week.
The company describes itself as an independent oil and gas exploration company.
Based in Golden, Colorado in the United State of America, Strata-X Energy has a portfolio of petroleum projects covering over 225,000 net acres of leases across the country.
The company’s self-proclaimed mission is to create substantial growth for its shareholders by finding and developing high reward opportunities with relatively low entry costs, then acquiring acreage positions in those opportunities thereby owning a working interest.
Current projects in the USA are in the states of Colorado, California, North Dakota, Illinois and Texas.
The company also holds a 100 per cent equity position in a large area of the Canning Basin in Western Australia.
Strata-X Energy says it has a drilling program planned for 2013 to evaluate the high resource potential of its WA leasehold.
UPCOMING FLOATS
Malabar Coal Limited
Proposed ASX code: MBC
Proposed listing date: 21 March 2013
Malabar Coal has a 27.7 per cent interest in the Spur Hill underground coal project located in the coal fields of the Upper Hunter Valley in New South Wales.
The company has the right to increase its interest up to 80 per cent.
The Spur Hill project includes a 586 million tonnes JORC Mineral Resources comprising 117 million tonnes Indicated Mineral Resources and 469 million tonnes Inferred Mineral Resources.
The company says the project hosts high-quality, well-known coal seams, from which it expects to produce products such as ultra-low ash soft coking coal and semi-soft coking coal.
The project is situated in close proximity to infrastructure being adjacent to established coal mines and less than five kilometres from the Hunter Valley Rail Network.
The company is offering a total of 20 million shares at a price of $1.00 per share.
Funds raised will be used to fund continued development of the Spur Hill project including drilling, environmental studies and monitoring, engineering studies, development approvals and strategic land acquisitions.
The proceeds will also provide general working capital and fund the expenses of the IPO and costs associated with listing the company on the ASX.
Laramide Resources Ltd
Proposed ASX code: LAM
Proposed listing date: 22 March 2013
Laramide Resources is listed on the Toronto Stock Exchange (TSX: LAM).
The company is conducting exploration and development of uranium assets based in Australia and the United States.
These include Westmoreland in Australia and two development stage assets, La Sal and La Jara Mesa, in the US.
Within the Laramide portfolio are also joint ventures, strategic equity positions and royalty participation in uranium development and exploration companies that provide additional diversification.
The company claims the Westmoreland project in Queensland to be one of the largest uranium deposits not controlled by a senior producer or utility.
The latest NI 43-101 resource estimate for Westmoreland reported an Indicated Mineral Resource totalling 36.0 million pounds of uranium contained in 18.7 million tonnes at an average grade of 0.089 per cent uranium, and an additional Inferred mineral resource totalling 15.9 million pounds of uranium contained in 9 million tonnes at an average grade of 0.083 per cent uranium.
In addition to the Westmoreland deposit in Queensland, the Company has in the Northern Territory, three contiguous joint ventures, the NuPower-Lagoon Creek Joint Venture, the Gulf Mines Joint Venture, and the Rio Tinto – Murphy Farm-in and Joint Venture.
Disclaimer: The above information is not investment advice. The Roadhouse accepts no responsibility for investments made from this information.