Canterbury gets off to uninspiring start.


After quite a wait, Canterbury Resources Limited (CBY) has joined the ranks today, opening at 25 cents vs the IPOs 30 cent ask.

It could be worse, but it’s not exactly the type of start we like to see to an IPO, but given the delays it’s hardly surprise.

Canterbury first lodged a Prospectus all the way back in September last year and ended up with with an unusually high 5 supplementary documents before finally making it to market.

African Gold showed us there’s still interest in Resource stocks, but interest appears to be quite low in this one. We’ve updated the 2019 Scorecard to make it easier to see if this one lifts and we’ll keep an eye on it over the course of the day and update as necessary.

EDIT: Looks like it clawed some back this afternoon, to finish just short of the ask on day 1.

African Gold wins hearts on Valentines day.

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African Gold (A1G) has given lovers of IPOs exactly what they wanted this Valentines day, posting excellent day 1 gains as trade opened on the ASX.

Asking the requisite 20 cents, prices peaked as high as 40 cents before settling to 30 cents at close of trade, a nice gain regardless of whether you jumped out early or made the call to sit tight.

There’s nothing overly exciting planned for the proceeds of the IPO, fund some exploration, pay some bills, the usual - that’s not exactly bad news though.

We’ve updated our Scorecard so you can keep tabs moving forward but we’d love to know what your call was, bag the Stag or Hold?

Yandal Resources edges ahead of ask at launch


Posting any gain is a good thing and Yandal Resources Limited (YRL) has managed to do just that as it joined the ASX at 1pm today.

Resources sector IPOs have been plentiful this year, with most failing to match their initial ask at open, but Yandal has managed to slip investors a 5% gain as trade kicked off at 21 cents.

Prices are likely to shift with greater intent as results from ongoing exploratory works makes it way to market, keep track of Yandal’s performance on our 2018 Scorecard.

Alliance digs up solid gains for investors.

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Finally joining the ASX today, Alliance Mineral Assets Limited (A40) got off to a solid start despite the wait, though this came as little surprise to investors.

Providing a nice mid-week reprieve and bucking the trend of recent resource based IPOs, shares began selling for 33 cents, over 60% above the ask listed in the prospectus.

As good as that sounds, it was to be expected as Alliance’ inception has come about as a result of purchasing Tawana Resources (TAW), which had a final price of 31 cents when trade was suspended.

For those who missed it, Caprice Resources also went live today but results overall have been poor so far.