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2024’s Upcoming IPOs

12 January 2024 10:28

Last year was a notably quiet year for Initial Public Offerings (IPOs), not only in Australia, but was a shared consensus globally. The AFR reports Australian IPOs raised $677 million USD in 2023, considerably lower than the $746 million USD raised the year before.

In the US, there were 154 IPOs in 2023, 15% lower than the 181 IPOs in 2022, and 85% lower than the all-time record number of 1,035 IPOs in 2021.

IPOs have been on a steady decline since 2021, which yielded record capital raised. Australian IPOs notched record highs in 2021, pulling in $13 billion AUD in capital, the highest in seven years, and $52 billion AUD in new listings, including IPOs, spin-offs, dual and direct listings.

Despite the slow down in 2023, market analysists are noticing positive signs for the start of a new year, indicating 2024 could be a little more favourable.

Kali Metals (ASX:KAL)

Kali Metals successfully commenced trading on the ASX earlier this week after a heavily oversubscribed IPO, which raised the maximum amount of $15 million before costs.

The Company’s expansive portfolio encompasses 3,854 square kilometres of lithium projects across Western Australia, New South Wales and Victoria, occupying valuable land tenure adjacent to some of the world’s largest hard rock (spodumene) mines and deposits.

At Kali’s Higginsville Project, located in the Eastern Yilgarn region of WA, exploration has already commenced, with results from the recent rock chip and soil sampling campaign anticipated later this month.

The Company is additionally primed for its maiden Reverse Circulation (RC) drilling program at the Project, expected to commence in the first half of 2024.

Kali holds the rights to several projects in WA’s prolific Pilbara region, including the DOM’s Hill, Marble Bar and Pear Creek Lithium Projects. Of note, Kali’s DOM’s Hill and Marble Bar Projects are fully funded by the world’s second largest lithium producer, SQM, as part of the Company’s joint venture, facilitating expedited exploration across the tenements.

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Figure 1: Kali Metals Pilbara Projects

Infini Resources (ASX:I88)

Infini Resources Limited is a mineral and exploration company focused on lithium and uranium exploration, which plans to list on the ASX on the 15th this month following a successful IPO raising $5.5 million.

The Company has acquired eight exploration projects across well endorsed mineral districts in Canada and Australia, all of which are considered highly prospective for lithium or uranium.

These include the Pegasus Lithium Project (100%), Parna Lithium Project (100%) and Yeelirrie Project (100%), all located in WA. Its Canadian Projects include, the Des Herbiers Project (100%) and Valor Project (50%) in Québec, the Tinco North and South Claims in Saskatchewan, the Portland Creek Uranium Project (100%) in Newfoundland and Labrador, and finally the Paterson Lake Project (100%) in Ontario.

You can read the Company’s prospectus here.

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Figure 2: Infini Resources Des Herbiers Uranium Project

Golden Globe Resources (ASX:GGR)

Golden Globe Resources is a mining exploration company which intends to list on the ASX at the end of the month, under the proposed ticker code GGR.

The Company’s IPO is set to raise $6 million, propelling its gold exploration in Queensland, NSW and WA.

Golden Globe’s key assets have been acquired over the past four years, all presenting significant gold resource opportunities, including high grade copper.

The Company has already completed extensive drilling and sampling at its flagship Dooloo Creek Project, achieving strong results, with further drilling planned for later in the year.

You can read the Company’s prospectus here.

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Figure 3: Golden Globe Resources Dooloo Creek Project

Fuse Minerals (ASX:FSE)

Fuse Minerals is an exploration company dedicated to discovering mineral resources to support green energy transitions.

Fuse plans to list on the ASX, under the ticker code FSE, in February this year following a successful IPO to raise $10 million.

The Company’s portfolio of projects, encompassing 2,024 square kilometres, are all located within favourable geological settings, with the potential to deliver deposits of copper, nickel, silver, lead, zinc, uranium and gold.

These critical minerals will play a key role in meeting the rapidly increasing demand for resources essential in the clean energy transition.

You can read the Company’s prospectus here.

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Figure 4: Fuse Minerals key Projects in Australia

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