by Megan Stals
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How to buy NGX Limited (NGX) shares

Graphite from NGX’s graphite mines in Malawi could be used to supply EV battery makers.

How to buy NGX Limited shares?

Want to start buying NGX shares but not sure how? Follow the steps below to invest in NGX Limited on the ASX.

1. Find a stock investing platform

To buy shares listed in Australia, you'll need to sign up with an investment platform that has access to the ASX. There are a number of share trading platforms in Australia, of which Stake is one.

2. Fund your account

Complete an application with your personal and financial details. Fund your investment account with a bank transfer, debit card or even Apple/Google pay.

3. Search for NGX Limited ($NGX)

Find the share by company name or ticker symbol: $NGX. Do your own research to ensure it is the right investment product for your own circumstances.

4. Choose an order type and buy NGX stock

Buy on any trading day with a market order or use a limit order to delay your purchase of NGX shares until it reaches your desired stock price. Look into dollar cost averaging to spread out your risk, which smooths out buying at consistent intervals.

5. Monitor your investment

Optimise your portfolio by tracking how your stock and the business perform with an eye on the long term. You may be eligible for dividends and shareholder voting rights that affect your stock.

NGX Limited overview

Mining company Sovereign Metals ($SVM) has spun out its four graphite assets into a new business called NGX Limited. Now that the demerger is complete, NGX has been listed on the ASX. 

Sovereign intends to focus on developing their flagship Kasiya Rutile Project, a large deposit of the mineral used to create titanium. NGX will progress several of the graphite projects in Malawi. 

Their most advanced prospect is the Malingunde Project, which is located only about 20 km southwest of the capital city of Lilongwe. It has a resource of 65 million tonnes (mt) with 7.2% total graphitic carbon (TGC), which means it likely contains 4.68mt of graphite. 

A pre-feasibility study that outlines potential plans to develop a mine was last updated in 2021. They are currently waiting for a mining licence to be approved, depending on the acceptance of their environmental and social impact study for the project. 

The Duwi Project lies approximately 15 km east of Lilongwe. Previous work has established a resource of 85.9 mt and TGC content to be estimated at 7.1%. Transferring the legal title of this asset to NGX is awaiting ministerial approval. 

They have two earlier stage projects in the country. Nanzeka is nearly 60 km north of Lilongwe, a landholding with limited sampling and drilling to date. The Mabuwa Project is 60 km south of second major city Blantyre and there’s been no previous exploration work at the site. 

Graphite’s use in EV batteries will drive future demand for the material. Only time will tell whether NGX can emulate the successes of graphite mines in the neighbouring countries of Tanzania and Mozambique. 

NGX Limited (NGX) IPO details

NGX Limited filed its prospectus with the Australian Securities and Investments Commission (ASIC) and is now listed ASX using the ticker symbol NGX. Read more in the NGX Limited replacement prospectus.

ASX code

NGX

Offer price

$0.20

Total number of shares available under the offer

47,805,920 

Target market capitalisation

$9.56m

ASX listing date

16.06.2023

You can take a look at the top shareholders in NGX, find them here.

If you're considering investing in NGX Limited or other upcoming IPOs, sign up today.

This article focuses on how to buy specific securities, however, it is not a recommendation to invest in them and should not be taken as financial advice. Do your own research and make your own decisions, or even consider getting advice from a licensed financial adviser before investing.


Portrait photo of Megan Stals, Market Analyst at Stake.

Megan Stals

Market Analyst

Megan is a markets analyst at Stake, with 7 years of experience in the world of investing and a Master’s degree in Business and Economics from The University of Sydney Business School. Megan has extensive knowledge of the UK markets, working as an analyst at ARCH Emerging Markets - a UK investment advisory platform focused on private equity. Previously she also worked as an analyst at Australian robo advisor Stockspot, where she researched ASX listed equities and helped construct the company's portfolios.


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