Each week I like to look at the upcoming IPOs which are happening on the ASX. It gives me a chance to see if there are any future stars being listed and perhaps get in early on that success story.
Every single share that currently trades on the ASX was a newly-listed share at one point, they should not be avoided just because they are new.
Here are the latest shares to be listing according to the ASX:
Eagle Mountain Mining Limited (ASX: EM2)
Its proposed listing date is 9 March 2018.
Its principal activity is mineral exploration with a primary focus on exploration for copper and gold.
The company's website says that it was incorporated with the purpose of acquiring the USA copper-gold exploration project owned by a Bass family entity, the Silver Mountain Mining Trust.
The Silver Mountain Project is located in Yavapai County, Arizona, USA and is around 100 kilometres northwest of Phoenix.
The business is hoping to raise $8,004,500 at $0.20 per share.
Lowell Resources Fund (ASX: LRT)
Its proposed listing date is 8 March 2018.
Its principal activity is 'investment in resources sector (LIC)'.
The website says that it's a unit trust that is focused on investing in shares and other financial products issued by resource companies listed in Australia and overseas. The fund will focus on junior resource companies that have achieved significant exploration success, have established a potentially commercial resource base and are considered to have a good probability of building on that initial success and moving into production.
The business is hoping to raise $10,000,000.
Foolish takeaway
Both sound slightly more promising than some of the most speculative resource exploration companies. I think Eagle Mountain is slightly better because it has identified what it will invest in and Lowell will likely offer diversification and expertise in the area.
However, both are speculative compared to a typical ASX share. Resource companies aren't for me, so they won't be going on my watchlist.
