While it is expected to be a slow start to 2024 on the ASX IPO front, new energy metals company Infini Resources Ltd (ASX:I88) is looking to take advantage of the quiet time with a January listing.
Infini is focused on lithium and uranium commodities and has curated a diversified portfolio of eight greenfields and brownfields projects in tier-one mining jurisdictions across Canada and Western Australia.
The company recently closed a $5.3 million raise, with funds to be used across its assets at a time when lithium and uranium headwinds could work in its favour.
“We've got some exceptional micro and macroeconomic tailwinds in the lithium and uranium markets, which really drive the exciting nature of our IPO,” Infini Resources CEO Charles Armstrong told Proactive.
Diversified asset base
It is the diversified nature of the assets that Armstrong believes is Infini’s strength.
The exploration projects Infini will hold on admission are considered highly prospective for lithium or uranium.
They include a 100% interest in Pegasus Lithium Project, Parna Lithium Project and Yeelirrie Project in Western Australia; a 100% interest in Des Herbiers Project and a 50% interest in the Valor Project in Québec, Canada; a 50% interest in claim MC00015793 (Tinco North Claim), and the option to acquire the remaining 50% interest and a 100% interest in claim MC00017688 (Tinco South Claim) in Saskatchewan, Canada. Note the Tinco Project is rich in uranium and niobium.
Also in the mix is a 100% interest in the Portland Creek Uranium Project in Newfoundland and Labrador, Canada; and a 100% interest in the Paterson Lake Project in Ontario, Canada.
Looking at Paterson Lake in particular, the company has a large footprint with 106 mineral claims and a 12-square-kilometre search space. Armstrong, a geologist by trade, is excited by the geology at Paterson Lake.
“We've got some amazing geology. We've got a greenstone belt there and we're located directly adjacent to Avalon Advanced Materials whose Separation Rapids Lithium Deposit is only three kilometres away.”
Paterson Lake Project - local geology.
The Paterson Lake Project has been documented to contain abundant rare metal-bearing pegmatites including seven named petalite-bearing pegmatites and up to 50 unnamed pegmatites that require investigation.
The project is yet to be explored properly and is just a taste of Infini’s overall asset holding.
“We've got some great optionality and we do see the volume of our assets as a strength because we're going to be able to deliver some continuous news flow for investors once we list and we progress them in 2024,” Armstrong said.
Strategic and value-focused
With lithium and uranium at the forefront of the renewable energy sector, Infini is positioning itself as a strategic and value-focused company.
“Uranium is a complementary solution to the renewable energy crisis,” Armstrong said.
“We feel very grateful to have this IPO timed with four assets that are exposed to the US$82 per pound uranium price. We're in a uranium bull market and it's fantastic to be a part of that.
“Concerning lithium, it remains a solution to portable energy storage devices. It's here for good and we believe we are still in a long-term upward trend despite some price normalisation with lithium. We're still going to be doing work on our lithium projects, but our priority is uranium right now.”
Busy times ahead
Once listed, Infini will waste no time in starting its exploration work.
Over the next few months, investors can expect a blend of soil geochemistry and geophysical surveys.
The company has also submitted a diamond drilling permit to the Ontario Government for Paterson Lake, signalling an active and promising year ahead.