Summit Minerals Ltd is a Australia-based exploration company and to pursue Uranium, Lithium, Gold and other battery minerals exploration. It is set to list on the Australian Securities Exchange (ASX).
Summit Minerals Ltd has five projects – Stallion REE (uranium), Windfall Antimony (gold), Phillips River (lithium), Gascoyne REE (lithium) and Bridgetown (lithium).
*Stallion REE (Granted) – covering 18km2 of the Ponton Creek palaeochannel.
*Windfall Antimony (Granted) – covering 240km2 of the prospective New England Orogen, near Kempsey
*Phillips River (Granted) – covering 42.6km2 of Archean rocks locally intruded by lithium-bearing pegmatites
*Gascoyne REE (Granted) – Potential for two mineralisation styles: REE’s associated with carbonatites and lithium-bearing pegmatites
*Bridgetown (Applications) – Two applications located 7km south of Talison’s Greenbushes Lithium Operations, the world’s largest lithium mine
Summit Minerals Ltd was looking to raise up to $5.5 million at $0.20 per share in its initial public offering (IPO). The Public Offer opens on 13 May 2022 and closes on 04 July 2022. The expected date for quotation on ASX is 25 July 2022.
Note: The dates shown on this page are indicative only and may change without notice.
IPO Summary
ASX code | SUM |
Name | Summit Minerals Ltd |
Website | https://summitminerals.com.au/ |
Share Registry | Automic Group |
Underwriter | Not underwritten. Barclay Wells Ltd (Lead Manager). |
Opening Date for the Public Offer: | 13 May 2022 |
Closing Date for the Public Offer: | 04 July 2022 |
Expected date for New Shares to commence trading on ASX | 25 July 2022 |
Funds to be raised under the Public Offer (before costs) | $5,500,000 |
Offer price per Share | $0.20 |
Shares on issue at the Prospectus Date | 1,875,100 |
Shares to be issued under the Public Offer | 27,500,000 |
Total Shares | 39,375,100 |
Escrow (estimate) | 10,000,000 Shares and 14,700,000 Options (a period of 24 months from quotation) |
Source: Summit Minerals Ltd prospectus