Share

IPO Watch | Northam Resources

One of the largest tenement holders in Western Australia’s Wheatbelt region is ready to explore.

Northam Resources is seeking to raise up to $9m as part of its IPO to expand exploration at its tenements in the southwestern region of Western Australia. Its prospectus has been lodged with the Australian Securities and Investment Commission (ASIC) with the aim to launch on the ASX in mid-December. 

The company is one of the largest tenement holders in the Northam region, including a tenement package of 24 granted exploration licences totalling 1590.23 square kilometres.

The project portfolio is grouped into four major project areas: Kauring, Mount Joy, Ragged Rock and Yerecoin North.

The nickel-copper-PGE potential of mafic-ultramafic complexes across its projects has attracted significant investor interest, including from its neighbour Chalice Mining, which has committed $1m to the IPO. 

Speaking to Stake, Northam CEO Craig Moulton said Chalice will spend up to $4m over four years with Northam, which could then turn into a joint venture. 

“It really vindicates our technicals beyond the project and the viability going forward. They wouldn't be investing in this style of mineralisation if they didn’t see the opportunity,” Mr Moulton said. 

Northam wasn’t always seeking new age minerals, and actually began life as an iron ore company before discovering there was more money to be made in newer materials. 

“We have done extensive research in the area, but it was all focused on iron ore. We realised the massive potential of other mineralisation in this area, and that is where we are now looking,” he said. 

The company is focused on the metals that are essential to the current energy transition, like nickel, copper and PGEs. 

“Nickel is used in stainless steel but it's also a major component for lithium-nickel batteries. Then you have copper which is used in new electric vehicles and of course PGEs which are not only in electric vehicles but also combustible engines.”

Mr Moulton says that post-IPO the company would continue to deploy boots on the ground and resume all exploration activities: “We have run some airborne electromagnetic surveys which have given us some credible targets for drilling, which we will undertake next year.”

Northam Resources will list on the ASX in December under the ticker NRL. 


Don’t have Stake?

Get $10 when you fund Stake AUS, a free US stock when you fund Stake Wall St. Do both, get both!

Terms & Conditions.


Related


Stake logo
Stakeshop Pty Ltd, trading as Stake, ACN 610105505, is an authorised representative (Authorised Representative No. 1241398) of Sanlam Private Wealth Pty Ltd (Australian Financial Services Licence No. 337927) ('Sanlam') and an authorised representative (Authorised Representative No. 1241398) of Airwallex Pty Ltd (Australian Financial Services Licence No. 487221) ('Airwallex'). Stake is not authorised by Airwallex under Airwallex’s AFSL to arrange for clients to be issued with securities as Airwallex is not authorised under its AFSL for this purpose. Stake is not authorised by Sanlam under Sanlam’s AFSL to arrange for clients to be issued with a non-cash payment facility as Sanlam is not authorised under its AFSL for this purpose. Stake SMSF Pty Ltd (‘Stake Super’) is not licensed to provide financial product advice under the Corporations Act. This specifically applies to any financial products which are established if you instruct Stake Super to set up a self managed super fund (‘SMSF’). When you sign up to Stake Super, you are contracting with Stake SMSF Pty Ltd who will assist in the establishment of a SMSF under a ‘no advice model’. You will also be referred to Stakeshop Pty Ltd to enable your trading account and bank account to be set up in order to use the Stake Website and/or App. Stakeshop Pty Ltd will also run marketing and promotions to you under. For more information about SMSFs, see our SMSF Risks page.The information on our website or our mobile application is not intended to be an inducement, offer or solicitation to anyone in any jurisdiction in which Stake is not regulated or able to market its services. At Stake and Stake Super, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Any advice given by Stake is of a general nature only. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate taxation and legal advice. Please view our Financial Services GuideTerms & ConditionsPrivacy Policy and Disclaimers  before deciding to invest on or use Stake or Stake Super. By using our website or service in any way, you agree to our Privacy Policy and Terms & Conditions. All financial products involve risk and you should ensure you understand the risks involved as certain financial products may not be suitable to everyone. Past performance of any product described on this website is not a reliable indication of future performance. Stake and Stake Super are registered trademarks in Australia.

Copyright © 2022 Stake. All rights reserved.