IPOs on the ASX raised more than AU$5 billion last year. Which newly listed resource companies have performed the best since debuting?

The resource space was resilient to the turbulence and uncertainty of 2020, with companies listed on the Australian Securities Exchange (ASX) able to raise more money than in the last five years.

In 2020, capital raisings on the ASX brought in north of AU$50 billion, the highest level since 2015, with resource-focused stocks responsible for AU$7.7 billion of that amount.

Companies with initial public offerings (IPOs) raised more than AU$5 billion in total. Some stocks listed last year are now up more than 300 percent since debuting, and with that in mind it’s worth looking at the top-performing ASX-listed resource companies that had IPOs in 2020.

This list was created using data from the ASX, and was accurate as of January 26, 2021. Only companies listed in 2020 on the ASX under the materials and energy sectors are included.

1. Australian Strategic Metals (ASX:ASM)

Share price: AU$5.61; gain since IPO: 300.71 percent; year-to-date move: -14.87 percent

Australian Strategic Materials is an integrated materials business and describes itself as an emerging “mine to manufacturer” producer of critical metals. The company’s cornerstone Dubbo project hosts rare earths, zirconium, niobium and hafnium and is located in Central-Western New South Wales, Australia.

The company, a spinoff of Alkane Resources (ASX:ALK), has also patented a metallisation process that produces high-purity metals from oxides using up to 70 percent less energy than conventional methods. Following the success of a pilot plant, the company acquired 95 percent of South Korean Ziron Tech — including 100 percent of its pilot plant, patents and related intellectual property and technology.

Listed since July 30, 2020, and with a market cap of AU$577.39 million, Australian Strategic Metals continues to work on Dubbo’s optimisation feasibility study, with delivery targeted for the end of Q1.

2. Caspin Resources (ASX:CPN)

Share price: AU$0.70; gain since IPO: 54.35 percent; year-to-date move: +24.56 percent

Based in Perth, Western Australia, Caspin Resources is focused on exploration at the Yarawindah Brook nickel-copper-platinum-group elements project and at the Mount Squires project, where the company has identified a 50 kilometre structural corridor with significant gold mineralisation.

After completing an AU$8 million oversubscribed IPO, Caspin started to trade on the ASX on November 25, 2020, and has a current market cap of AU$38.68 million. The company is well funded to evaluate its current projects in 2021.

3. Manuka Resources (ASX:MKR)

Share price: AU$0.40; gain since IPO: 53.87 percent; year-to-date move: -6.98 percent

Listed since mid-July 2020, Manuka Resources owns two fully permitted projects, the Mount Boppy gold project and the Wonawinta silver project. After acquiring Mount Boppy in mid-2019, the company began processing its remaining gold ore in April 2020, becoming Australia’s newest precious metals producer.

The company expects to continue mining and producing gold from Mount Boppy until June 2021, after which it will transition to processing silver stockpiles at Wonawinta. The Wonawinta processing plant has a nameplate capacity of 850,000 tonnes per year

Following a AU$7 million IPO, Manuka Resources currently has a market cap of AU$136.02 million.

4. Siren Gold (ASX:SNG)

Share price: AU$0.68; gain since IPO: 51.11 percent; year-to-date move: -4.23 percent

After raising AU$10 million, explorer Siren Gold started trading on the ASX on October 7, 2020. Siren, which now has a market cap of AU$51.81 million, is focused on the high-grade Reefton goldfield in New Zealand, which consists of four key projects: Alexander River, Big River, Reefton South and Lyell.

The Reefton goldfield has been explored and mined for both hard-rock and alluvial gold since the first discovery of gold in 1870, and most recently at the Globe-Progress mine held by OceanaGold (ASX:OGC,TSX:OGC,OTC Pink:OCANF), which closed in 2015.

The company kicked off drilling at Big River at the end of last October, and to date eight holes have been completed.

5. Native Mineral Resources (ASX:NMR)

Share price: AU$0.32; gain since IPO: 47.72 percent; year-to-date move: -24.41 percent

Copper and gold company Native Mineral Resources listed on the ASX on November 16, 2020. The company’s portfolio includes the Palmerville copper-zinc project and the Mount Morgan copper-gold project in Queensland, and the Eastern Goldfields gold project in Western Australia.

Following an IPO of AU$5.7 million, Native Mineral Resources has a drilling program underway at Palmerville, and has also secured two key exploration assets in the Eastern Goldfields project; they are called Music Well and Arcoona.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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Rio Tinto Chief Executive Jakob Stausholm said “Government stimulus in response to ongoing COVID-19 pressures has driven strong demand for our products at a time of constrained supply resulting in a significant spike in most prices. We focused on safely running our world-class assets and supplying products to our customers. This enabled us, despite operational challenges, to deliver record financial results with free cash flow of $10.2 billion and underlying earnings of $12.2 billion, after taxes and government royalties of $7.3 billion. We are further strengthening the portfolio with our commitment to fund the high-quality Jadar lithium project, which signals our large-scale entry into the fast-growing battery materials market. We will pay an interim dividend of 561 US cents per share, representing 75% of underlying earnings.

“We are making progress on our four priorities, identifying opportunities for operational improvement, advancing our ESG agenda, taking important investment decisions and stepping up our external engagement. We are making real and lasting changes to the way we engage, interact and operate and are committed to ensuring that we have strong and positive relationships wherever we do business. We have identified what we need to do to make Rio Tinto a better company for the long term, with the right teams in place to unleash our full potential.”

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The Bonus Options will have an exercise price $0.35 each, expiring on 15 October 2021 and, if exercised, each will result in the allotment and issue of one (1) fully paid ordinary share in Lake. Lake will not seek listing of the Bonus Options on ASX.

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– Assay results returned for infill RC drilling testing the gap between oxide and deeper fresh rock high-grade gold mineralisation at Kat Gap.

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Rio Tinto Chief Executive Jakob Stausholm said “Government stimulus in response to ongoing COVID-19 pressures has driven strong demand for our products at a time of constrained supply resulting in a significant spike in most prices. We focused on safely running our world-class assets and supplying products to our customers. This enabled us, despite operational challenges, to deliver record financial results with free cash flow of $10.2 billion and underlying earnings of $12.2 billion, after taxes and government royalties of $7.3 billion. We are further strengthening the portfolio with our commitment to fund the high-quality Jadar lithium project, which signals our large-scale entry into the fast-growing battery materials market. We will pay an interim dividend of 561 US cents per share, representing 75% of underlying earnings.

“We are making progress on our four priorities, identifying opportunities for operational improvement, advancing our ESG agenda, taking important investment decisions and stepping up our external engagement. We are making real and lasting changes to the way we engage, interact and operate and are committed to ensuring that we have strong and positive relationships wherever we do business. We have identified what we need to do to make Rio Tinto a better company for the long term, with the right teams in place to unleash our full potential.”

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As the Bonus Options will be issued for nil consideration, Lake is raising no capital from their issue. For every ten (10) shares held at 5:00 pm (Sydney time) on the Record Date, Eligible Shareholders will be issued with one (1) free Bonus Option.

The Bonus Options will have an exercise price $0.35 each, expiring on 15 October 2021 and, if exercised, each will result in the allotment and issue of one (1) fully paid ordinary share in Lake. Lake will not seek listing of the Bonus Options on ASX.

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Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has strengthened its Board, announcing today the appointment of experienced energy/natural resources lawyer, Sra. Amalia Saenz as a Non-Executive Director.

Based in Buenos Aires, Sra. Amalia’s appointment will assist Lake and its local team in Argentina in engaging with local stakeholders and preparing for the development of clean lithium production in Argentina.

Sra. Saenz is a partner at the law firm, Zang, Bergel & Viaes in Buenos Aires, where she leads the firm’s energy and natural resources practice.

Keep reading... Show less

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Perth, Australia (ABN Newswire) – Classic Minerals Limited (ASX:CLZ) has made significant progress at Kat Gap during the quarter as it strives to become a gold producer.

Highlights of the quarter include:

– Assay results returned for infill RC drilling testing the gap between oxide and deeper fresh rock high-grade gold mineralisation at Kat Gap.

Keep reading... Show less

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Rio Tinto has committed $2.4 billion to the Jadar lithium-borates project in Serbia, one of the world’s largest greenfield lithium projects. The project remains subject to receiving all relevant approvals, permits and licences and ongoing engagement with local communities, the Government of Serbia and civil society.

The Jadar project would scale up Rio Tinto’s exposure to battery materials, and demonstrate the company’s commitment to investing capital in a disciplined manner to further strengthen its portfolio for the global energy transition.

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