IPOs

Mach hier mal einen Thread zum Thema IPOs auf. Die "goldene" Rohstoffstimmung wird wohl einige Ipos hervorbringen und man muß ja den Überblick behalten.

Fange mal an mit Lingbao Gold. Da wär ich gern dabei...

Singapore (Platts)--9Jan2006

China's second largest gold smelter and producer, Lingbao Gold, is
expected to price its initial public offering at the top of the indicative
range of HK$3.33 (43cts) as its shares were 1,200 times over-subscribed, China
Daily reported Monday. The move will raise the company as much as HK$861-mil
in the Hong Kong IPO, and the funds will be mainly used to expand mining
capacity.
The bullish market response to Lingbao Gold is powered by the soaring
gold prices hovering at about the highest for 25 years, at $540/oz. Gold
prices have been on an uptrend since April 2001 from $256/oz to last Friday's
closing price of $530/oz.
Lingbao's net profit will increase 26% to Yuan 150-mil ($18.75-mil) in
2005, according to its listing prospectus. But with 80% of its gross profit
generated from gold smelting, Henan province-based Lingbao Gold is more of a
smelter than a miner. The company expects to be able to supply 50% of its
smelting demand with its own gold by 2008 through increased production at its
mines.
Investors also expect the stock to repeat recent gains of Hong
Kong-listed gold miner, Zijin Mining Group, whose share prices enjoyed a 250%
gain over the past half year. "The stock is likely to see as much as 30% gain
in the first trading day to follow the similar recent gain of other material
stocks," said Kenny Tang, director at Tung Tai Securities. Lingbao Gold is
expected to start trading its shares next Thursday.
"With more private investors especially from the increasingly affluent
India and China, as well as central banks, to put money in gold to hedge
against the possible slump of the US dollar, gold prices have more upside
potential," said Alvin Ching, president of the Chinese Gold and Silver Society
in Hong Kong. "The gold price is set to hit $600/oz in February, and it is
very likely to reach $850/oz at the end of the year."
According to a gold report published by Hang Seng Bank last month, a
number of forces are driving gold prices higher. Among them, strong end-user
demand has been particularly important. Jewelry consumption, which accounts
for 73% of total demand for the metal, rose 12% in tonnage terms and 20% in
dollar terms during the first three quarters of 2005 compared with the same
period in 2004.
Investment demand for gold was also high as investors regard the metal as
a safe haven against geopolitical and other risks to diversify their asset
portfolio from stocks and bonds. Gold has been an alternative investment tool
to hedge against inflation and oil prices.

Auch Interessant:

2006-Jan-09 01:33 PM

Shares in junior gold explorer Azumah Resources has begun trading on the Australian Stock Exchange (ASX) at a premium to their issue price.

Azumah first traded at 1200 AEDT at 24.5 cents, a 4.5 cent increase on the issue price, before easing back to 24 cents by 1327 AEDT.

The miner is focused on the Wa-Lawra gold project in Ghana, where it has a reconnaissance licence covering 2,177 square kilometres and an inferred resource of 225,000 ounces of gold.
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The Perth-based company raised six million with its initial public offering and plans to spend the money exploring and developing the Wa-Lawra project.

Its listing could not have been better timed, coming on a day when the surging gold price sparked strong buying in gold stocks on the ASX.

The gold price continued to rise in Sydney and at 1314 AEDT had reached $US543.25 per fine ounce, up $US15.625 on Friday's close.

http://www.azumahresources.com.au

11.08.05

Gold subsidiary Solomon Gold has raised £460,000 ($A1.08 million) in a pre-IPO private placement of 10p shares as it prepares for listing on London's AIM and an engulfing of fellow D'Aguilar subsidiary Australian Resource Management (ARM) – which holds the Solomon Islands assets.

10.01.06

Solomon Islands copper and gold exploration company Solomon Gold is seeking admission to AIM in February 2006.

The company will raise funds to advance its four exploration licences on the island of Guadalcanal, Solomon Islands, in the southwest Pacific region of the “Rim of Fire”.

Williams de Broë is acting as the company's Nominated Adviser and Broker.

The South West Pacific region is recognised as one of the most prolific zones in the world for world class copper-gold porphyry systems and epithermal gold deposits; neighbouring Papua New Guinea hosts Ok Tedi, Lihir Island and Panguna, Bougainville, each with more than 40-million ounces gold equivalent in combined production and resources.

In Irian Jaya, Indonesia, lies the giant 100-million ounce equivalent Grasberg deposit.

The Solomon Islands were identified by the South Pacific Geoscience Commission as the most prospective country on the southwest Pacific Rim after Papua New Guinea.

Solomon Gold's wholly-owned subsidiary Australian Resource Management (ARM) has held four exploration licences and two applications on the main island of Guadalcanal since 1995 and has extensive experience in exploration of the area.

Solomon Gold's licensed areas cover ground of similar structural and intrusive geology to the world class copper and gold mines in the region.

The firm has compiled substantial data from previous explorers in the area alongside its own findings.

Independent assessment of this database has concluded that the area held by Solomon Gold is the most prospective on Guadalcanal for porphyry systems, and 22 targets, including eight new targets have been prioritised.

The core project at Mbetilonga exhibits several of the key prospects, including high-grade copper and gold prospects located in an extensive system, and is earmarked for early drill testing.

Solomon Gold has developed long-established, good relationships over the last 10 years with the Solomon Islands.

This enabled it to secure access and compensation agreements with local communities and landowners over the most prospective ground within all four tenements - the agreement relating to the Sutakiki project, for example, providing the first exploration access into that area for 17 years.

The last access to the Sutakiki area was enjoyed by Newmont in 1988 which concluded that the area presented a prime target for a significant porphyry copper -gold system.

The firm has recently been granted fresh exploration tenure, and has secured the key elements to enable an early and active exploration program.

This includes the engagement of David Jelley as executive director with special responsibility for the field project and general management of the Company's operations in Solomon Islands.

He was ARM's Project Geologist in the Solomon Islands from 1996 until field work was suspended in 1998.

A drilling rig, helicopter and local and expatriate exploration staff have been engaged, and all are supported by an operations base in Honiara, the capital of Solomon Islands.

The firm plans to start drilling soon after admission to AIM.

Lingbao Gold snatches major profits
By Vincent Lam (China Daily)
Updated: 2006-01-13 06:05

HONG KONG: In line with skyrocketing gold prices hitting a 25-year high, Lingbao Gold, the nation's second-largest gold miner, leapt more than 50 per cent in its debut.

The strong profit-taking, however, forced the shares to finish the day at HK$4.426 (56.6 US cents), with a 32.88 per cent gain over the offer price of HK$3.33 (42.7 US cents) per share. A total of 198.69 million shares were traded for a final lump of HK$950.2 million (US$122 million) at HK$4.40-5.00 (56-64 US cents) per share.

Retail investors instantly reaped a profit of HK$3,340 ( US$428 ) per lot had they sold the shares at its height of HK$5 (64 US cents) apiece with a HK$6,660 (US$854) subscription amount.

The bullish market sentiment over the yellow metal prompted the Henan-based company over-subscription by 730 times in the retail tranche, triggering the claw-back mechanism to set aside the proportion of public offering to 50 per cent of all shares for global offering.

According to the offering results, those who applied for one lot of Lingbao Gold shares (2,000 shares) only had a 20 per cent chance of successful allotment, and the subscribers had to apply for 300,000 shares to be allotted at least one lot.

The surge may rekindle the Initial public offerings (IPOs) frenzy, prompted by the world's largest Real Estate Investment Trust (the Link REIT) in its first trading day last year, followed by Chinese mainland enterprises such as Parkson department store, Dongfeng motor group, Zhongshan-based Agile property holding and the nation's first real estate investment trust Guangzhou REIT.

The leap of Lingbao Gold comes as no surprise to the market, as the growth momentum of shares is powered by soaring gold prices hovering at their highest in 25 years, at US$548 per ounce from US$256 in April, 2001.

Riding on the back of the worldwide demand for the bullion, the nation's largest gold miner, Zijin Mining Group, enjoyed a 250 per cent gain over the past half year and investors expect Lingbao gold would follow suit after its debut.

"The gold price is set to hit US$600 per ounce in February, and it is very likely to reach US$850 at the end of the year," said Alvin Ching, president of the Chinese Gold and Silver Society in Hong Kong.

"With more private investors especially from the increasingly affluent India and the Chinese mainland, as well as central banks, to put money in gold to hedge against the possible slump of the US dollar as a result of its mounting twin deficit, gold prices have more upside potential," added Ching.

A number of forces are driving gold prices higher, according to a gold report published by Hang Seng Bank last month. Strong end-user demand has been particularly important.

Consumption demand for jewellery, which accounts for 73 per cent of total demand for the metal, rose 12 per cent in tonnage terms and 20 per cent in dollar terms during the first three quarters of 2005, compared with the same period in 2004.

Investment demand for gold was also high. Central banks have long considered the metal a safe haven against geopolitical and other risks to diversify asset portfolios from stocks and bonds, as well as an alternative investment tool to hedge against worldwide inflation and soaring oil prices.

Australasia Gold to start exploring in Otago
17 January 2006

Australian mining company Australasia Gold said today it plans to start exploration on its Wetherstones project, near Otago, in February.

Australasia Gold's managing director Trevor Ireland said the company, which will list on the Australian Stock Exchange on Wednesday, wanted to target known mineralisation with its maiden drilling programme.

"From our research, we believe that previous efforts to exploit deposits at Wetherstones terminated due to limitations of the technology of the times rather than exhaustion of the gold lode," he said.

Mr Ireland said the company would spend more than $A300,000 ($NZ327,332) on the initial drilling programme which would test extensions of known high grade gold mineralisation at Wetherstones.

A development feasibility study would follow the drilling programme.

The Adelaide-based company raised $A3 million in its initial public offering.

Australasia Gold is also ready to prepare a feasibility study on the Glencoe gold deposit in the Pine Creek region of the Northern Territory.

New ASX Listing Focusing on NZ Drilling

Australasia Gold Ltd joins the ASX lists on Wednesday with plans to commence exploration drilling in February on its promising New Zealand prospect.

“We have decided to target known mineralisation with our maiden drilling program,” Australasia Gold’s Managing Director, Trevor Ireland, said yesterday. “Our first drilling is therefore planned to be under way on our 100% owned Wetherstones project, near Otago, by the end of next month.

“From our research, we believe that previous efforts to exploit deposits at Wetherstones terminated due to limitations of the technology of the times rather than exhaustion of the gold lode,” he said.

“We will be testing extensions of known high grade gold mineralisation at Wetherstones with more than $300,000 to be outlaid on the initial drilling program. The drilling program is expected to be followed by a development feasibility study on the prospect.”

The Wetherstones gold project is located in a region of New Zealand’s South Island with a rich history of alluvial gold production.

The Adelaide-based company joins the ASX lists on Wednesday after closing its $3 million IPO oversubscribed.

As well as the NZ gold project, Australasia Gold’s interests include the Glencoe gold deposit in the Pine Creek region of the Northern Territory which is ready for a feasibility study leading to potential development and early cash flow.

The Glencoe deposit contains a JORC-compliant resource of 90,000 ounces of gold. Production from the NT deposit could commence within 12 months of the Company’s ASX listing, providing income to supplement exploration funds raised from the IPO

It also holds interests in greenfields exploration areas of high potential, including the Lachlan project near Orange in NSW – an area that has yielded a number of significant gold discoveries.

Mr Ireland said Australasia Gold would also be keeping an eye on any acquisitions that could add to the company’s future growth – especially any attractive development opportunities that may be identified.

Mr Ireland - a former Exploration Manager at North Flinders Mines and Normandy Mining - is the geologist credited with discovering much of the world class Granites and Callie gold deposits now operated by Newmont Mining in the Tanami Desert region of the Northern Territory.

He is joined on the Australasia Gold board by Directors with extensive minerals industry experience, namely former Homestake Gold of Australia Ltd Managing Director, John Roberts as Chairman, and Messrs Norton Jackson and Mick Billing.

- 17 Jan 2006

New gold explorer Chalice Gold Mines Ltd is seeking $7.5 million in an initial public offer ahead of its planned listing on the Australian Stock Exchange

Chalice will hold the gold assets of Bullion Minerals, which wants to focus on uranium and has decided to change its name to Uranium Equities Ltd.

Chalice lodged a prospectus with the Australian Securities and Investments Commission last week, offering 37.5 million shares at 20 cents each.
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Chalice's exploration will be focused in Western Australia where it has five projects in the Eastern Goldfields and West Pilbara.

The priority target is the Higginsville-Chalice project in the Eastern Goldfields and along strike from Avoca Resources' Trident gold discovery.

The new company is headed up by Andrew Bantock, currently the managing director of Bullion Minerals, and John McIntyre, also from Bullion Minerals, will also sit on the board.

Mr Bantock said there were a number of targets ready for drilling at Higginsville.

"We are ready to hit the ground running at Higginsville with 24 targets, five of which warrant immediate diamond/RC (reverse circulation) drilling," Mr Bantock said.

"We have a mix of projects in both established and emerging gold camps, which gives investors an active opportunity to participate in gold discovery upside."

Chalice hopes to start trading on the ASX towards the end of March.

- Lingbao Gold

01.02.06 - Ein Goldpreis der vor kurzem ein neues 25 Jahrhoch schaffte und derzeit zwischen 565 und 570 USD pro Feinunze pendelt, treibt die chinesischen Goldminen voran. So marschierte die am 12. Januar gelistete Lingbao Gold auf ein neues Hoch von 5,55 HKD. Am Handelsende betrug der Zugewinn satte 5,9 % bei 5,40 HKD. Der Ausgabepreis lag bei 3,33 HKD. +62%

- Azumah Resources

Ausgabepreis 0,20 AUD, aktueller Kurs 0,205 AUD +2,5%

- Solomon Gold

Ipo noch am laufen, 1. Handelstag 10.02.06

- Australasia Gold

Ausgabepreis 0,20 AUD, aktueller Kurs 0,30 AUD +50%

noch eine kurzer Kommentar zu Australasia:

Im Ipo-Prospekt sprechen sie von einem Potential ihres Weatherstone-Projektes von bis zu 1 Mio. Unzen Gold. 300.000 AUD werden nun zum Initial Drilling auf die bereits bekannten hochgradigen Mineralisationen verwendet.

Ein erster Cash-Flow wird in einem Jahr in Aussicht gestellt, da man das Glencoe Gold Deposit (ein weiteres Projekt mit einer 90.000 Unzen Resource) innerhalb eines jahres zur Produktion bringen will.

Der Höchskurs nach Ipo lag bereits bei 0,50 AUD (+150%).

aktuell 0,30 AUD, MK 9 Mio. AUD

Nach dem Spin-Off von Polyus Gold von Norilsk Nickel kommt der nächste Rubel gerollt:

Russia's Polimetall plans London IPO

MOSCOW, Feb 13 (Reuters) - Polimetall, Russia's third largest gold firm and biggest silver miner, said on Monday it planned to float shares in London in November and promised to name lead managers for the listing by the end of this month.

"If there is good demand, we will probably float more than 25 percent," company head Vitaly Nesis told reporters on the sidelines of a precious metals conference organised by the Adam Smith Institute in Moscow.

He added that the company planned to offer to investors via a placement on the London Stock Exchange both new shares and shares belonging to existing Polimetall owners.

Polimetall is controlled by investment company Nafta Moskva, which purchased it at the end of 2005.

Nesis said Polimetall plans to increase output of gold by some 20 percent from 7.5 tonnes in 2005. Output of silver is expected to decline by five percent from 589 tonnes last year due to a decrease of silver content in processed ores.

Nesis said Polimetall may announce the acquisition of new assets before the IPO. He declined to elaborate, saying only that Polimetall intended to stay within the borders of the Commonwealth of Independent States of the former Soviet union and Mongolia.

Copper giant to spin off silver assets
Five Canadian brokerages vie for rights to Codelco's $1-billion IPO on TSX

SINCLAIR STEWART AND ANDREW WILLIS

The world's largest copper producer, state-owned Codelco of Chile, is preparing a $1-billion (U.S.) spin-out of its silver mining assets that is expected to create a new company listed on the Toronto Stock Exchange.

The Santiago-based company auditioned investment bankers over the past two weeks in New York as it laid the groundwork for an initial public offering later this year, according to financiers vying for the business. Codelco is capitalizing on the fact that silver bullion prices have doubled in the past four years, with the precious metal changing hands Friday at $9.59 an ounce.

Silver and gold are afterthoughts for Codelco, which produces 40 per cent of the world's copper. The company estimates it will spend $12-billion expanding its copper mines over the next four years, and an IPO of its silver assets would help pay these bills.

At least five Canadian brokerage houses, along with several global investment banks, pitched for a starring role in the IPO, which would likely pay out more than $20-million in fees. Investment bank N.M. Rothschild & Sons Ltd. is supervising the selection of financial advisers, sources said. Codelco is expected to select an investment bank within two weeks, with an IPO to follow.

"This would be a real coup, to have a new, billion-dollar mining company arriving on the TSX," said one Canadian financer pitching Codelco. The new silver company is expected to list its shares on some combination of the TSX, New York Stock Exchange and AIM, an arm of the London Stock Exchange. Officials at Codelco could not be reached for comment.

More than half of the world's mining companies -- more than 4,400 stocks -- are listed on either the TSX or the Calgary-based TSX Venture Exchange.

Codelco does not disclose its silver output, but it is one of the world's top 20 miners of the precious metal.

The Silver Institute, a Washington-based industry association, estimated that the Chilean company produced 9.6 million ounces in 2004, good for 16th place in the ranking of international silver miners.

One of the largest silver-focused mining companies on the TSX is Pan American Silver Corp. It turned out 11.2 million ounces of the metal in 2004, and commands a $1.8-billion (Canadian) market capitalization.

Vancouver-based Pan American also lists its stock on the Nasdaq Stock Market, an American exchange.

Though Codelco is government owned, a company-commissioned study by Goldman Sachs & Co. last year pegged its value at between $24.5-billion (U.S.) and $27.5-billion. In 2004, the company posted a $3.3-billion profit on sales of $8.2-billion, and it has 16,700 employees.

Prior to the 1990s, Codelco had a monopoly on mining in Chile, but the market has now opened up.

In addition to producing silver at wholly owned mines, Codelco has partnered with two Canadian companies on Chile's Puren mine, slated to begin production later this year.

Codelco owns 35 per cent of the project, which is expected to churn out 12.9 million ounces of silver in the first year of operation, and more than 50,000 ounces of gold.

The remaining 65-per-cent stake is held by Mantos de Oro, a joint venture between Kinross Gold Corp. and Placer Dome Inc.

Worldwide silver supply was 879.2 million ounces in 2004, according to the Silver Institute, which also says that demand for the metal has outstripped supply for 14 consecutive years.

Demand for the metal comes primarily from bullion-buying investors, jewellery and silverware manufacturing, industrial applications and photography, with the latter a declining market.

The commodity's hot run in the past few years has come in part on the back of other metals.

A recent Silver Institute report said: "Silver has never really enjoyed the 'safe haven' status that gold possesses. However, its linkage to gold and the base metals meant silver was often an attractive home for speculative capital since it was perceived as likely to ride the coattails of any rally in these other markets."

http://www.theglobeandmail.com…ODELCO27/TPStory/Business

Primary Resources raises $3m in IPO
Source: AAP
Date: 2006-Mar-02 01:05 PM

Junior explorer Primary Resources Ltd has raised $3 million from its initial public offer, ahead of a planned listing on the Australian Stock Exchange next week.

The company had been seeking a maximum of $5 million, with $3 million representing the minimum subscription level.

Adelaide-based Primary has five projects in Western Australia, which it considers prospective for gold, copper, nickel and uranium.

Primary chairman Rod Hollingsworth said the immediate focus would be on its flagship Warburton-Egerton project, with four targets ready for drilling.

"The acreage's mineralisation is also very similar to systems around the Olympic Dam and Ernest Henry discoveries," Mr Hollingsworth said.

The company hopes to identify significant discoveries within two years of listing.

It said the type of ground in Western Australia had been the bane of previous explorers, resulting in slow development.

"However, the recent opening up of some areas for negotiated exploration may lead to the discovery of concealed mineral deposits," the company said.

"The area is vast and compared to other parts of Australia, has been under explored."

Shares in Primary were issued at 20 cents each and are due to start trading on March 8.

14 March 2006

Australian mining company Australasia Gold has started drilling at its Wetherstones project, near Otago.

The company, which listed on the Australian stock exchange in January, has started testing extensions of known high grade gold mineralisation.

Managing director Trevor Ireland said drilling was expected to be completed within the next two weeks, with results back by the end of April.

Mr Ireland said research indicated that previous gold mining activity at Wetherstone had been stopped due to technology limitations, rather than a lack of gold.

The prospect had been mined between 1862 and 1933.

Australasia Gold is also getting ready to prepare a feasibility study on the Glencoe gold deposit in the Pine Creek region of the Northern Territory.

http://www.stuff.co.nz/stuff/0,2106,3603759a13,00.html

New gold explorer Chalice Gold Mines Ltd has raised $7.5 million under its initial public offer (IPO) ahead of a planning listing on the Australian Stock Exchange later this month.

Chalice was spun off from base minerals and uranium explorer Bullion Minerals Ltd and has five projects in Western Australia.

Chalice executive chairman Andrew Bantock said the company had raised the maximum amount sought under the IPO.

"We were delighted by the positive response from a broad range of institutional and retail investors who have given a strong endorsement to the company's exploration plans," he said.

"As a result of the capital raising we are looking forward to rapidly drilling our gold targets in Western Australia, including at Higginsville adjacent to Avoca Resources' Trident discovery."

Higginsville is the priority target of Chalice's suite of exploration projects with a number of targets ready for drilling.

It also has projects in the West Pilbara, Murchison and Laverton regions of WA.

Bullion Minerals decided to divest its gold projects to focus on uranium and has plans to rename the company as Uranium Equities.

Around 37.5 million shares in Chalice were issued at 20 cents and are due to start trading on 24 March.

Mr Bantock claimed the funds raised under the IPO were the largest for a gold exploration company listing in Australia in the past eighteen months.

At 1241 AEDT on Monday, Bullion Minerals shares were down half a cent at 28.5 cents.

http://www.tradingroom.com.au/…aap_article.jsp&id=118261

Tuesday Mar 21 18:25 AEDT

Gold explorer Cortona Resources listed at a premium on the Australian Stock Exchange on Tuesday against a back drop of a booming gold price.

Cortona raised more than $3.5 million in its initial public offering (IPO) on the back of three gold exploration projects in Western Australia.

The shares, which were issued at 20 cents each, started trading at 25 cents, up five cents, and closed at the same level after rising as high as 28 cents.

Cortona's main project is the North Monger project, just south-east of Kalgoorlie, and non-executive chairman Clive Jones says it is close to major gold producers.

"The most exciting aspect of the geology and mineralisation within the project area is the similarities to many of the region's major gold deposits," he said.

Juglah Rocks is nearby to the company's main project and a soil-sampling programme has been planned.

The third project, Tambourah, is in the east Pilbara region of WA where Cortona said it will plan an exploration campaign based on already available information.

Mr Jones said Cortona chose to list on the exchange after recent jumps in the gold price.

"Since 2001 the outlook for gold has undergone a radical transformation," he said.

"Increased demand comes not only from the financial and investment sectors, but also from consumers within increasingly wealthy Asian countries such as China and India."

Mr Jones has also been involved with a number of smaller mining companies, including Mount Burgess Mining and Hamill Resources.

He is also joint managing director of Cazaly Resources.

http://news.ninemsn.com.au/article.aspx?id=92249

DJ Chinese Gold Producer Zhaojin Plans HK IPO-Sources

Mar 21, 2006 (Dow Jones Commodities News Select via Comtex) --Shandong province accounted for 27.7% of the total output of 91.5 tons of gold in China between January and July last year, with Henan province ranked second with 15.5%, China's state-run Xinhua News Agency has reported.

Zhaojin's share sale could raise at least US$500 million, Foo estimated, depending on what gold mining and smelting assets were included in the deal.

After a two-decade bear market, gold has returned to favor as an asset class in the last year or so and on Feb. 2 hit a 25-year high of US$574.60 an ounce. It was trading at US$554.40 an ounce in London Tuesday.

With gold's popularity, Zhaojin is likely to be able to price itself at a high valuation of up to 30 times earnings, Foo said.

The size of the share sale and composition of the listed company has yet to be decided, one of the people familiar with the situation said. Another person familiar with the deal was a banker who said the analyst's estimate of a US$500 million price tag would be at the top end of potential prices and would depend on what assets are included in the IPO.

The banker said the company's existing shareholders are a mix of state and private entities.

Zhaojin plans to follow Fujian-based Zijin Mining Group Co. (2899.HK), which launched a hugely popular share sale in Hong Kong in December 2003, raising HK$1.15 billion, with the retail portion of the offer 744 times subscribed. The stock closed at HK$4.725 Tuesday, 43.2% above its HK$3.30 IPO price and is priced at 37.8 times expected 2005 earnings, according to Thomson Financial data. The company has yet to report 2005 profits.

Zijin's peer Henan-based Lingbao Gold Co. (3330.HK) raised HK$861 million by selling 258.5 million shares at HK$3.33 each in January, with the IPO also sparking an enthusiastic response from investors. Its retail portion was 731 times subscribed.

Lingbao's stock closed Tuesday at HK$4.45, 33.6% above its IPO price and 23.2 times the 2005 earnings that have been forecast by BOCI Research Ltd.

http://www.tmcnet.com/usubmit/2006/03/21/1475720.htm

Date: 2006-Mar-23 02:10 PM

Gold explorer Terrain Minerals Ltd has debuted on the Australian Stock Exchange at a 20 per cent premium to the issue price.

Terrain first traded at 1330 AEDT at 24 cents, up four cents on the price the shares were issued at in the company's recent initial public offering.

The Perth-based company plans to use the $4 million raised under the offer to fund exploration at its four key tenements on the eastern goldfields of Western Australia.
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Chairman Daniel Tucker says the company already has a gold resource of 219,000 ounces and its resources remain open, raising the prospect they could be extended.

Terrain has planned a $2.1 million exploration program over the next two years with pre-feasibility studies to be carried out at all four tenements and drill testing to be carried out at each site within 12 months.

The company's positive listing has occurred on a day when established gold stocks are losing ground due to a dip in the price of the precious metal.

http://www.tradingroom.com.au/…aap_article.jsp&id=118434

Gold explorer Chalice list at premium

Date: 2006-Mar-24 01:49 PM

Shares in West Australian gold explorer Chalice Gold Mines Ltd have begun trading on the Australian Stock Exchange at a 10 per cent premium to their issue price.

Chalice, which has 2,200 square kilometres of gold tenements across WA, first traded at 1330 AEDT at 22 cents, up two cents on its issue price.

The Perth-based company issued 37.5 million shares at 20 cents to raise $7.5 million which it plans to use to explore the gold assets it acquired from Bullion Minerals.

Bullion divested the five projects located in the Eastern Goldfields and the West Pilbara after deciding to shift its focus to uranium and change its name to Uranium Equities.

Chalice says it now plans to spend $5.3 million on exploration over the next two years.

The company says a priority target is the Higginsville project south of Kalgoorlie, which is adjacent to Avoca Resources Trident discovery.

Higginsville covers 150 square kilometres and Chalice says it has identified 24 target areas and it plans to test the six most prospective of these within a year of listing.

http://www.tradingroom.com.au/…aap_article.jsp&id=118487

A portfolio of advanced nickel-copper-PGE (Platinum Group Elements) projects in well-established mineral provinces in Australia and Canada underpins a new $6 million resource IPO, Magma Metals Ltd, whose public share offer opens today.

Magma – which is aiming to list on the Australian Stock Exchange in June 2006 – will use the funds raised to rapidly launch aggressive exploration programs initially focusing on two advanced projects in the East Yilgarn and East Kimberley regions of Western Australia and a PGE project located near the world-class Lac des Iles palladium-platinum mine in the Thunder Bay region of north-western Ontario, Canada. It will also assess the potential for zinc, uranium and gold within its East Kimberley projects.

Magma was founded by Dr Keith Watkins and Ralph Porter, in conjunction with gold company Metex Resources Ltd, which has previously supported the successful IPO’s of AIM-listed copper explorer Zambezi Resources Ltd and ASX-listed emerging diamond producer Elkedra Diamonds NL.

Magma has assembled a portfolio comprising the rights to earn majority interests in seven nickel-copper-PGE projects in the East Yilgarn and East Kimberley in Western Australia and the Thunder Bay region of Ontario, Canada.

In the East Yilgarn Magma has a 1,800sqkm ground position spanning the Mt Jewell, Laverton and Roe Projects. Magma’s initial focus will be on the Mt Jewell Project (Magma earning a 60% interest), which includes the GSP deposit (Inferred Resource of 86,000 tonnes at 2% nickel) as well as a number of other drill targets where previous ore-grade intersections have been recorded.

In the East Kimberley Magma has a 550sqkm tenement holding in the emerging Halls Creek nickel-copper-PGE province which hosts the operating Sally Malay nickel-copper mine and the Panton Sill PGE deposit as well as the Koongie Park copper-zinc deposits. Its two East Kimberley projects, Eastman and Laura River, are prospective for nickel, copper, PGE’s and zinc, while the Laura River Project is also prospective for gold and uranium, which will also be assessed as part of planned exploration activities.

Magma’s Managing Director, Keith Watkins, said exploration programs would commence immediately after listing, with an initial focus on the advanced projects at Mt Jewell, Eastman and Tib Lake – all of which represented opportunities to generate short-term cash flow because of their resource potential and, for Mt Jewell and Tib Lake, strategic locations close to existing mining operations.

“Our focus will initially be at Mt Jewell, where we plan to target depth extensions to the GSP nickel resource, along with exploration programs targeting the potential early delineation of resources at the Eastman Project in the East Kimberley and the Tib Lake project in Canada,” he commented.

“Magma has quality projects covering metals which are currently experiencing strong demand and record prices, an experienced technical and corporate management team, and a clear vision to build shareholder value through the exploration and rapid evaluation and development of its mineral projects in Australia and Canada,” he continued.

- 10 Apr 2006

http://www.minebox.com/story.asp?articleId=7454

Tuesday Apr 11 11:42 AEST

Shares in Queensland copper and gold explorer ActivEX Ltd began trading on the Australian Stock Exchange on Tuesday at a premium to their issue price.

ActivEX first traded at 1100 AEST Tuesday at 21 cents, up one cent on the 20 cent price at which ActivEX issued 15 million shares to raise $3 million.

The company now plans to spend more than $2 million over the next two years on exploration work on its five key targets.

Drilling is set to start in May at the Booubyjan copper/gold project in south east Queensland with initial work to be funded by Minotaur Exploration Ltd.

Minotaur has the right to take up a 75 per cent stake in the project further down the track if it commits to spend $2 million on exploration work.

The company's other key focus is its Prospect Creek epithermal gold project, where drilling is expected to begin in June or July.

ActivEX has tenements covering 1,600 square kilometres across Queensland.

http://news.ninemsn.com.au/article.aspx?id=93113