IPO Watch

IPO WATCH: IPOs in the resources sector have been benefiting from renewed interest in the space. The Roadhouse looks at one recent listing and a prospective lister.


BlackEarth Minerals (ASX: BEM)

BlackEarth Minerals listed on 19 January 2018 expressing its focused on the exploration and development of the company’s 100 per cent-owned Madagascan and Western Australian graphite projects.

BlackEarth Minerals’ Madagascan projects consist of two primary exploration areas: the main Maniry project, and the Ianapera project.

Maniry is considered highly prospective for largescale, high-quality graphite deposits and is currently at an advanced evaluation stage pending additional work to establish an initial resource, which is currently expected to be completed by mid-2018.

Results, from samples taken within 50 metres of surface, have been received and include 10m at 10.2 per cent total graphitic carbon (TGC), 12m at 11.6 per cent TGC and 14m at 11.3 per cent TGC.

Ianapera consists of a series of high-grade outcrops, up to 800m long and 30m wide, of graphite mineralisation within a broader graphite trend.

These high-grade (15%+ TGC), near-surface exposures of graphite mineralisation lie over the top of a large conductive body, which BlackEarth believes indicates the potential presence of a large graphitic mineralised system.

The company’s Western Australian graphite assets include project areas that have been partially explored by a number of companies in the past, with encouraging results reported from several locations.

BlackEarth researched graphite data via the historical Western Australian Mineral Exploration (WAMEX) database, which has already led to the identification of targets which will be the focus of initial exploration activities.



Saturn Metals

Saturn Metals is a wholly-owned subsidiary spin out of Peel Mining (ASX: PEX).

Peel Mining has sold off its 100 per cent-interest in the Apollo Hill gold project in Western Australia to Saturn, which is currently in the process of listing on the ASX by way of an initial public offering.

Saturn Metals has issued a prospectus to raise up to $7 million to progress its exploration activities at the Apollo Hill project.

The company has declared the purpose of the offer is to provide funds to immediately commence exploration on the Apollo Hill and Ra Resource areas.

It will also conduct further exploration activities within those areas to identify and grow new higher-grade gold lode/vein exploration targets and commence a cost-effective exploration program across the tenement package seeking to identify a large new Archaean Lode gold deposit.