Bubalus Resources Limited is a Australian exploration company and focused on rare earths and manganese in the Northern Territory and Western Australia. It is set to list on the Australian Securities Exchange (ASX).
Bubalus Resources Limited has 4 projects – Amadeus Project, Nolans East Project, Coomarie Project and Pargee Project.
*Amadeus Project (Manganese and Base Metals) – The Amadeus project is located below the Ernest Giles Road. Access is from Alice Springs, approximately 150km south from Alice Springs to the Ernest Giles Road. Bubalus will through the acquisition of TMPL, secure a 100% legal and beneficial interest in 7 tenements for a total of 5,436.53km2.
*Nolans East Project (REE) – The Nolans East project is located approximately 140km north of Alice Springs adjacent to the main Stuart Highway and comprises one tenement. The Nolans East project is an early-stage exploration covering approximately 380km² of the Arunta Province analogous to the Nolans Bore rare earth deposit 15km the northwest.
*Coomarie Project (REE) – The Coomarie project is located ~600km from Alice Springs headed past the Tanami Gold Mine on the border with Western Australia and Northern Territory.
*Pargee Project (REE) – The Pargee project is another 70km along the Tanami Road and then 50km north of the Tanami Road by secondary 4WD tracks.
Bubalus Resources Limited was looking to raise up to $5 million at $0.20 per share in its initial public offering (IPO). The Public Offer opens on 1 Sep 2022 and closes on 23 Sep 2022. The expected date for quotation on ASX is 13 Oct 2022.
Note: The dates shown on this page are indicative only and may change without notice.
IPO Summary
| ASX code | BUS |
| Name | Bubalus Resources Limited |
| Website | https://www.bubalusresources.com.au/ |
| Share Registry | Automic Pty Ltd |
| Underwriter | Not underwritten. Inyati Capital Pty Ltd (Lead Manager) |
| Opening Date for the Public Offer: | 1 September 2022 |
| Closing Date for the Public Offer: | 23 September 2022 |
| Expected date for New Shares to commence trading on ASX | 13 October 2022 12:00pm AEDT |
| Funds to be raised under the Public Offer (before costs) | $5,000,000 |
| Offer price per share | $0.20 |
| Shares on issue at the Prospectus Date | 7,661,750 |
| Shares to be issued under the Public Offer | 25,000,000 |
| Total Shares | 33,661,750 |
| Escrow | 4,190,575 Shares and 11,136,750 options (a period of 24 months from quotation) 2,425,000 Shares and 1,425,000 options (a period of 12 months from the date of issue) |
Source: Bubalus Resources Limited prospectus, official website.