UPCOMING FLOATS: Who’s due to list on the ASX this week and what they’re all about.
Zeus Resources Limited
Proposed ASX Code: ZEU
Proposed Listing Date: 6 December 2012
Zeus Resources has obtained a cornerstone investment from Zhengyuan International Mining Co. Ltd, which is a wholly-owned subsidiary of Chinese State Owned Enterprise, China Metallurgical Deology Bureau, one of the largest multi-commodity mineral exploration, development and mining organisations in China.Zeus was formed to explore for uranium, principally in Western Australia, however, it now proposes an active project generation and acquisition program for a range of commodities, in WA and beyond.
The company has assembled an initial tenement package – inclusive of exploration licences and EL applications – covering approximately 5,700 square kilometres, comprising seven uranium exploration projects.
Zeus describes these to range from being projects with existing drill targets and prospects for defining a resource within 12 months to others that are grassroots with upside potential.
Tenemnts holdings are located at Narnoo in the vicinity of the Mulga Rock discoveries as well as a previously unexplored holding in the Musgraves area.
The portfolio is rounded off by two projects in the Gascoyne province.
Zeus is looking to raise approximately $11 million through the issue of 67.7 million shares at 20 cents per share.
Paringa Resources Limited
Proposed ASX Code: PNL
Proposed Listing Date: 7 December 2012
Paringa Resources has interests in gold, gold-copper and graphite exploration projects in Brazil.
The company claims its goal is to build a successful resource company through the exploration and future exploitation of these projects.
A key focus is on exploration at the Minaçu gold project, which has been subject to several historical gold workings.
These have been mined by artisanal miners for approximately 120,000 ounces of gold in the 1980’s and 1990’s.
The project area has had limited exploration since the 1990’s and Paringa’s two year exploration program is based on the existence of gold occurrences and deposits, regional geological features, gold anomalies, presence of gossanous material and quartz veins.
The São Luis gold project in northern Brazil lies within the São Luis Craton, which is the extension of both the Guyana Shield (known gold endowment of over 100 million ounces) and West African Craton.
The Paringa tenements cover a strike length of areas of high-magnetic relief and overlie the interpreted extension to Proterozoic greenstones and structures associated with major gold deposits and occurrences.
The company says its intends to carry out a progressive two-phase exploration program at the São Luis gold project.
Brazil is responsible for approximately 7 per cent of the global graphite production and approximately 26 per cent of production outside of China.
Paringa has two graphite projects, the Santo Antônio de Pádua graphite project and the São Fidélis graphite project – both located in northern Rio de Janeiro State.
Subject to exploration licenses being granted, Paringa intends to carry out a two year exploration program including geological structure mapping, rock-chip sampling, and preliminary petrography and trenching to sample mineralised zones.
Paringa boats a management team with proven corporate, exploration, project development and production track records, which it says will take a disciplined approach to maximise the value of the current portfolio and increase shareholder value through future growth.
Paringa is seeking to raise approximately $10 million through the issue of 33.3 million shares at an issue price of 30 cents each to provide funds to achieve its immediate objective of exploring the current portfolio and to develop a strong project pipeline.
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investments made from this information.