Sparton Resources Inc V.SRI

Alternate Symbol(s): SPNRF

Metals & Mining Gold

Sparton Resources Inc. is a Canada-based mineral exploration company. The Company is focused on exploring gold projects near producing mines on or near the major gold producing trends in northeastern Ontario and northern Quebec, where it holds interests in three exploration prospects. The Bruell Property, which hosts a new gold discovery. The Oakes and Pense Properties, near Matachewan and Englehart, in Ontario, are in close proximity to Alamos Gold’s producing Young Davidson Mine and the Kirkland Lake gold producing area. The Bruell Property is located in Vauquelin Township, Quebec. The Oakes Gold Property is located in the Matachewan gold mining area of northern Ontario. The Company controls about 32 mining claims and three mining leases in the Matachewan Gold Area. The Pense Property is located in Pense Township, Ontario. The claims are located near the Quebec provincial border, approximately 25 kilometers east of Englehart, Ontario, in the Larder Lake Mining Division.

TSXV:SRI - Post by User

Sparton Resources Inc

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Post by kewlmoedon Jun 17, 2022 9:30am

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Post# 34764013

Ivanhoe Electric sets terms for $174 million IPO

Mineral exploration company Ivanhoe Electric sets terms for $174 million IPO, dual listing in the US and Canada

June 17, 2022

Ivanhoe Electric, which owns and develops US copper, gold, and other mineral and metal mining projects, announced terms for its IPO on Friday. The company plans to dual list on the NYSE American and the Toronto Stock Exchange.

The Vancouver, Canada-based company plans to raise $174 million by offering 14.4 million shares at a price range of $11.75 to $12.50. At the midpoint of the proposed range, Ivanhoe Electric would command a fully diluted market value of $1.2 billion.

Headquartered in Vancouver, Canada, Ivanhoe Electric is a minerals exploration and development company focused on developing mines from mineral deposits principally located in the United States. The company is led by mining billionaire Robert Friedland, the founder and Executive Co-Chairman of Ivanhoe Mines (TSX: IVN). Ivanhoe Electric has two material mineral projects, the Santa Cruz Copper Project in Arizona and the Tintic Copper-Gold Project in Utah. The company believes its projects can support American supply chain independence and deliver the metals necessary for electrification of the economy, such as copper, gold, silver, nickel, cobalt, vanadium and the platinum group metals.

Ivanhoe Electric's mining projects are still in the exploration stage and have not yet generated revenue; instead, the company's revenue to date has come from its ownership of both a data processing firm servicing the oil and gas industry, and a developer of vanadium-flow batteries.

Ivanhoe Electric was founded in 2010 and booked $10 million in revenue for the 12 months ended March 31, 2022. It plans to list on the NYSE American under the symbol IE. BMO Capital Markets, Jefferies, and J.P. Morgan are the joint bookrunners on the deal. It is expected to price on the week of June 20, 2022.

https://www.renaissancecapital.com/IPO-Center/News/93240/Mineral-exploration-company-Ivanhoe-Electric-sets-terms-for-$174-million-IP

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