Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Pacific Bauxite NL (PBX) lists on the ASX after finalising its significantly oversubscribed IPO
  • The completed corporate restructure sees PBX acquire new and highly prospective exploration holdings across some of Australia’s emerging nickel-PGE-gold regions
  • The early-stage explorer is hopeful of advancing their projects in the world’s emerging nickel and platinum group elements (PGE) jurisdictions
  • The company’s Darling Range PGE project, located just 75 kilometres from Perth, sits adjacent to Chalice Mining (CHN) Gonneville Resource — the world’s largest nickel sulphide discovery in 20 years
  • The value of this project is evidenced by the number of tenement applications placed over it by other parties in recent years
  • PBX management team comprises industry recognised expertise in the exploration, minerals and mining sectors, with a clear-cut exploration strategy across its portfolio of assets
  • PBX will open trading at an anticipated market capitalisation of approximately $16 million and with 79 million shares on issue

Making its relisting debut today on the ASX, nickel and PGE explorer Pacific Bauxite NL (PBX) has found itself on the road to success following an overwhelmingly successful IPO. 

Closing significantly oversubscribed, the company’s $4.5 million initial public offering (IPO) was an opportunity that resonated with the investment community — and for good reason.

Within the company’s diversified portfolio sits some strategically selected assets. 

The first are the company’s PGE projects, which comprise five separate exploration licences granted to explore prospective locations in the Eastern Goldfields and Pilbara regions of Western Australia. 

These tenements bring diversity to PBX’s host of prospects with each site holding potential for not only PGE targets, but also gold, nickel and other minerals.

Location of PBX Projects

The second, and arguably the most exciting, is the Darling Range nickel project — conveniently located just an hour’s drive from Perth. 

The darling of the Darling Range

First flagged for its potential in early January 2018, the area caught PBX’s eye well before the tightly held region’s reputation was solidified. In fact, PBX had their pegs in the ground almost four weeks before the majors, including Chalice Mining.

Not deviating from their long-term commitment to the project and its surrounding area, PBX was first to file its exploration licence application. 

Currently pending approval, this licence would put PBX in an enviably advanced position through proximity — a position that others in the area have since made a pass at.

Exemplified by the IPO’s performance, PBX has worked to secure its box seat in the newest and most talked about nickel region in the world.

Location of PBX Darling Range Project

Nickel’s HQ

Taking a closer look at the proximity of PBX’s Darling Range project to some of the region’s major nickel discoveries, it is no wonder that investors reacted so positively to the IPO. 

Chalice Mining’s (CHN) flagship Gonneville project — the world’s largest nickel sulphide discovery in over 20 years — neighbours PBX’s tenement on the east with additional landholdings to the west, an interesting configuration when viewed from above. 

Being first in the queue for one the of most sought-after tenements in the Darling Range region is the product of PBX’s depth of expertise. The move will place the junior on the map and see them become neighbours to some of the most well-known nickel names on the ASX. 

Just getting started

The clamour to peg ground in Western Australia for nickel and other critical metals is no coincidence given the sector’s continued upward trend. A look at market forecasts and the increasing demand paints a clearer picture of why this region has become so desirable.

As a critical EV and battery mineral, nickel is one of a handful of strategic metals intrinsically linked to global efforts to streamline sustainable technology solutions at scale. 

With disrupted supply from Russia, the world’s biggest nickel exporter, demand is rising alongside a global pivot toward emissions reduction. The future of nickel and the EV revolution depends on finding other sources of the strategic metal like PBX’s Darling Range project.

Today, PBX is ready to begin executing their exciting exploration pathway via their diversified portfolio of critical metals and PGE assets.

Anticipated to list with a market cap of $16 million, PBX is a classic example of right place, right time, right commodity.

The company’s journey through exploration and discovery is planned to begin as soon as relevant exploration licences are granted.

If PBX’s initiative and drive are anything to go by, there will be plenty of reportable activity to keep eager and discerning investors informed.

PBX by the numbers

More From The Market Herald

" Security Matters (ASX:SMX) looks at listing on the NASDAQ

Security Matters (ASX:SMX) is looking to list on the Nasdaq in the US as it seeks…

" How a pandemic and a digital health care revolution has Healthia (ASX:HLA) in the driver’s seat for growth

Leading the healthcare consolidation ecosystem in Australia and New Zealand is health network Healthia (ASX:HLA), which…
The Market Herald Video

" Excitement brewing for Cavalier Resources’ (ASX:CVR) June debut

Gold and nickel explorer Cavalier Resources (ASX:CVR) is in line to join the ranks of ASX…