IPO Watch | SQX Resources
Copper and gold could be the foundations of SQX Resources’ portfolio of mineral assets.
Previously known as South-East Queensland Exploration, SQX Resources Limited (ASX: SQX) and plans to build up a group of mining projects that range from exploration through to operational stages.
The team’s starting out by looking for copper and gold at its properties in the underexplored Esk Basin in southeast Queensland. They’re located relatively close to major population centres and infrastructure of Brisbane and the Sunshine Coast.
There’s been some historical work at SQX’s Scrub Paddock Prospect and early studies have confirmed the presence of gold and copper minerals at the site. This project will be the company’s first priority for drilling, which will help establish more details about the geology.
The nearby Ollensburgs Prospect could also be host to copper and gold minerals. Small amounts of copper, gold and silver have previously been recovered from the area. SQX intends to do a few initial studies and then follow up with drilling if results are positive for this project.
By raising $5m with listing on the ASX, the company’s ready to go ahead with the activities planned for Scrub Paddock. The team’s also open to acquire more projects for future opportunities.
SQX is particularly interested in copper, as the metal is expected to face large supply gaps in the next decade. There’s a lot of demand coming from the green transition, whilst miners are having a tough time starting new and expanding existing projects.
SQX Resources is now available to trade on Stake under the ticker SQX.