Centaur Resources, a small cap Australian Lithium explorer is planning on floating an IPO for $15 million on the Australian Stock Exchange. The company will primarily focus on lithium deposits, however will also consider other battery metals such as Vanadium and Cobalt.
The IPO, if fully subscribed, will value Centaur with a market capitalisation of $50 million.
Despite being a pure lithium explorer at the moment, Managing Director Brian Clifford has said the company will look at a number of battery metals.
“We are obviously strong believers in the underpinning demand. We will have a look at cobalt, we will have a look at vanadium.”
The money raised during the offering will be used by Centaur to pay for a number of acquisition deals whilst also continuing exploration of the Lobo Blanco area. Despite no lithium resource discovery, the company is confident given the area’s location to other lithium brine deposits. Centaur have already started planning their production facility and have already secured land for this purpose.
The IPO will open later this week and will close on October 25. The ticker will be CR3 and the target listing date is November 6.