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Trigg Mining IPO: 3 things you must know ahead of ASX debut

Here are three key things that investors should be aware of before Trigg Mining lists on the ASX – expected to take place on or around September 25.

Trigg Mining IPO watch Source: Bloomberg

When is Trigg Mining expected to list?

Trigg Mining is expected to list on the ASX on or around September 25, under the ticker symbol (ASX: TMG).

As with any IPO, while Trigg Mining is expected to list on the date noted above – such dates may be subject to change – and the company's shares may not be immediately available to trade on IG’s platform.

What does Trigg Mining do?

Trigg Mining is centrally involved in the exploration of sulphate of potash (SOP) – an agricultural ingredient that is of vital importance for ‘global food production and human nutrition.'

Given that the world population continues to grow and that the land suitable for growing crops continues to fall, Trigg Mining is confident in the favourable global demand conditions for potash fertilisers.

To meet such demand, the company is currently in the exploration and evaluation phase of two of its key projects, both of which have already shown early promise.

These projects include the:

Laverton Links Potash Project

Made up of three key prospects – Lake Rason, Lake Hope Campbell and East Laverton – the Laverton Links site stands as Trigg Mining’s most advanced potash project.

Here, the company noted that one of the main uses of the funds raised from the IPO:

'Is to focus exploration activities on the more advanced Lake Rason and Lake Hope Campbell Prospects to expand the exploration target and progress towards the estimation of a Mineral Resource.'

Though a previous exploration target had been established by earlier explorers at the Lake Rason Prospect, Trigg Mining noted that this target was not satisfactory to determine a Mineral Resource.

Lake Throssell Potash Project

Though less advanced than the company’s Laverton Links site, the Lake Throssell Project remains promising nonetheless, with the company noting that little exploration has been undertaken at Lake Throssell since the 1970s.

With this in mind, Trigg Mining plans to undertake a ‘heritage survey’ and ‘reconnaissance exploration’ at the Lake Throssell Project. The aim here is to establish whether there is mineral potential at the site.

Specifics of the IPO

Centrally, as part of the upcoming IPO, Trigg Mining is aiming to raise a minimum of A$4.5 million and issue 22,500,000 shares at an offer price of A$0.20 per share.

This, notes the company will provide Trigg Mining with the sufficient amount of capital to pursue the next phase of exploration and evaluation across its key projects.

Supporting this commitment, the company points out that it intends to use a large portion of the raised funds for ‘exploration drilling, geophysics and support.’

For those who partake in the IPO, the company also commented that, ‘one free listed option will also be awarded to investors for every two shares they acquire in the Public Offer.'

At the time the latest prospectus was issued, the company had A$50,000 cash on hand and A$250,000 available in the form of a loan.

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.

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