Lithium explorer with a distinction Pan Asia Metals has exceeded its minimal $four million IPO requirement – giving buyers a possibility to scoop up extra shares till shut of enterprise right this moment.
The corporate is then scheduled to start buying and selling on the ASX below the ticker code PAM on 30 September.
Pan Asia managing director Paul Lock stated he was “delighted” the IPO had been efficiently accomplished significantly throughout difficult financial occasions brough on by COVID-19.
The ASX itemizing will give buyers a possibility to achieve publicity to its low-cost South East Asia property and the area’s accelerating battery metallic and electrical car markets.
Mr Lock stated the supply allows Pan Asia to “quickly transfer ahead with its undertaking improvement plans”.
“Pan Asia has an thrilling future and we stay up for updating our shareholders on milestones and developments as they’re achieved.”
Pan Asia’s distinctive technique
The corporate’s technique is to develop its low-cost assets in South East Asia, which can also be a extremely value aggressive area that hosts subtle industrial economies.
Not like different lithium hopefuls which have initiatives in Australia, South America and Africa, Pan Asia plans to unlock the potential of its lepidolite-rich and tungsten initiatives in Thailand.
The corporate’s technique is to then add additional worth by creating downstream processing operations in both Thailand or Malaysia. The refined materials might be offered direct into Asia’s market.
Along with internet hosting a complicated industrial financial system, Thailand is dwelling to South East Asia primary auto business, which is targeted on producing electrical autos.
“Working in South East Asia, particularly in Thailand and Malaysia, provides the corporate entry to fashionable industrial economies with globally aggressive value environments,” Mr Lock defined.
“Our technique is straightforward, we search to exploration and improvement property, which have the potential to be positioned within the lowest or main third of the price curve, and which place the corporate for downstream worth including alternatives,” he stated.
“Value curve positioning is paramount in our choice making.”
Pan Asia’s highest precedence property comprise the Khao Quickly tungsten undertaking and Reung Kiet lithium undertaking – each situated in Thailand’s south.
Mr Lock famous the property additionally match with the corporate’s downstream technique and proximity to end-user markets.