IPO Watch
UPCOMING FLOATS: Who’s due to list on the boards of the Australian Securities Exchange and what they’re all about.
Enterprise Uranium Limited
Proposed ASX code: ENU
Proposed listing date: 12 December 2012
Western Australia-based Enterprise Uranium is focused on uranium exploration in Australia with an objective to discover and develop one, or more, ‘Tier 1’ uranium resources.
The company was incorporated by its former parent company Enterprise Metals in August 2012 after its Board decided to demerge its uranium assets into the new entity.
The demerger was approved by Enterprise Metals’ shareholders in October.
The purpose of the IPO is to expand Enterprise Uranium’s shareholder base, with the company hopeful of one or two cornerstone investors coming on board.
Enterprise Uranium hopes to raise sufficient funds to conduct uranium exploration and drilling programs on its project areas.
The Enterprise Metals demerger resulted in the company picking up five uranium projects, some of which include other, secondary commodities.
All of the company’s current projects are located on the Yilgarn Craton in Western Australia.
Proposed exploration for the first year will focus on targets the company has generated from geophysical data, including magnetics, radiometrics and airborne electromagnetics.
Enterprise Uranium anticipates following up results from the first year activities with infill and step out drilling programs.
The company is looking to raise $5.1 million through the issue of 25.5 million shares at 20 cents each.
Source: Australian Securites Exchange
Geocrystal Limited
Proposed ASX code: GEO
Proposed listing date: 17 December 2012
GeoCrystal Limited is focused predominantly on diamond exploration and discovery in Australia.
The company has assembled a portfolio of diamond projects in Australia and is searching for old volcanic pipes containing diamonds known as kimberlites.
GeoCrystal has negotiated a farmin arrangement over the Webb diamond project located in the remote Gibson desert region in Western Australia.
According to GeoCrystal the Webb project has never been explored on the ground for diamonds before and contains a cluster of 50 discrete, circular magnetic features, which the company considers may represent a kimberlite field, similar to kimberlite fields found elsewhere in the world.
This project has been earmarked by GeoCrystal as a priority for a drilling program once it has successfully listed on the ASX.
Any drilling is subject to permits being obtained to enter, what is Aboriginal Reserve land.
GeoCrystal also owns a tenement application over a diamond project at Beta Creek located in a known diamondiferous province in the North Kimberley Region of Western Australia.
Diamonds have been found in Beta Creek channels and in neighbouring streams that GeoCrystal indicated require exploration to find the diamond source.
In the Northern Territory of Australia, GeoCrystal has acquired a majority interest in the Moroak diamond project where diamondiferous kimberlite rocks were discovered previously by De Beers.
Moroak is modelled on the Merlin diamond field in the Northern Territory which became a renowned producer of large, good quality white diamonds and produced a 105 carat diamond, Australia’s largest.
The company also owns the Ruby Plains property located in the East Kimberley region of Western Australia, which it considers to be prospective for old buried river channels containing deposits of diamond and gold.
The company also considers the property to have potential for kimberlite occurrence.
GeoCrystal is raising a minimum of $3.5 million through the issue of 17.5 million shares and up to $5.4 million through the issue of 27 million shares at 20 cents each.
Source: Australian Securites Exchange
Disclaimer: The above information is not investment advice. The Roadhouse accepts no responsibility for
investments made from this information.