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Companies from the gemstone, base metals and uranium sectors are set to take the plunge, despite volatile conditions on the equity market.
The biggest float set for this month is Ivanhoe Australia, a subsidiary of Canada-based Ivanhoe Mines, which is listed on the Toronto, New York and NASDAQ exchanges.
Ivanhoe Australia is raising $125 million for its Cloncurry mining projects in north-west Queensland. The company has over 2,200km² of exploration tenements around Cloncurry, where it is targeting iron oxide, copper-gold, copper and uranium. It also holds a 19.9 per cent interest in Exco Resources with which it has an exploration joint venture.
Ivanhoe will use the float funds mainly for exploration and project studies and also to repay inter-company loans. It is issuing 62.5 million new, fully-paid ordinary shares at $2 per share. The parent company will retain an 80 per cent stake after the listing. Ivanhoe Australia will make its debut on August 6.
Another mining company exploring central and north-west Queensland is Mt Isa Metals, which is set to make its debut on August 22. The Brisbane-based company is focusing on iron oxide copper-gold deposits in the Mt Isa and Gregory regions. Mt Isa Metals has assembled over 6,500km² of exploration tenements and applications. It will also target phosphate and uranium.
The company, which is being spun out by listed miner D’Aguilar Gold, raised $7 million to fund a two-year exploration program. The offer closed oversubscribed, with 35 million shares issued at 20 cents each.
Two gemstone companies are also launching IPOs this month - Australian Gemstone House and Opal Horizon. Both plan to improve overseas marketing of Australia’s precious stones.
Australian Gemstone House is planning the larger capital raising. It wants to raise $30 million to sell sapphires and opals overseas. Executive chairperson Pnina Feldman is also chair of Australian Gold Investments, which listed earlier this year. Pnina is the sister of mining entrepreneur Joe Gutnick.
Australian Gemstone’s two key projects are a sapphire deposit near Glen Innes and an opal project near Lightning Ridge, both in New South Wales. Funds raised by the IPO will be used to develop the two main projects and also for marketing and working capital.
Australian Gemstone House is issuing 30 million shares at $1 a share. Its offer is set to close on August 14, with a proposed listing date of August 28.
The biggest float set for this month is Ivanhoe Australia, a subsidiary of Canada-based Ivanhoe Mines, which is listed on the Toronto, New York and NASDAQ exchanges.
Ivanhoe Australia is raising $125 million for its Cloncurry mining projects in north-west Queensland. The company has over 2,200km² of exploration tenements around Cloncurry, where it is targeting iron oxide, copper-gold, copper and uranium. It also holds a 19.9 per cent interest in Exco Resources with which it has an exploration joint venture.
Ivanhoe will use the float funds mainly for exploration and project studies and also to repay inter-company loans. It is issuing 62.5 million new, fully-paid ordinary shares at $2 per share. The parent company will retain an 80 per cent stake after the listing. Ivanhoe Australia will make its debut on August 6.
Another mining company exploring central and north-west Queensland is Mt Isa Metals, which is set to make its debut on August 22. The Brisbane-based company is focusing on iron oxide copper-gold deposits in the Mt Isa and Gregory regions. Mt Isa Metals has assembled over 6,500km² of exploration tenements and applications. It will also target phosphate and uranium.
The company, which is being spun out by listed miner D’Aguilar Gold, raised $7 million to fund a two-year exploration program. The offer closed oversubscribed, with 35 million shares issued at 20 cents each.
Two gemstone companies are also launching IPOs this month - Australian Gemstone House and Opal Horizon. Both plan to improve overseas marketing of Australia’s precious stones.
Australian Gemstone House is planning the larger capital raising. It wants to raise $30 million to sell sapphires and opals overseas. Executive chairperson Pnina Feldman is also chair of Australian Gold Investments, which listed earlier this year. Pnina is the sister of mining entrepreneur Joe Gutnick.
Australian Gemstone’s two key projects are a sapphire deposit near Glen Innes and an opal project near Lightning Ridge, both in New South Wales. Funds raised by the IPO will be used to develop the two main projects and also for marketing and working capital.
Australian Gemstone House is issuing 30 million shares at $1 a share. Its offer is set to close on August 14, with a proposed listing date of August 28.
