Battery and precious metals exploration company Lykos Metals today announced that its shares are expected to start trading on the ASX in the coming days, after its share offer closed with the total raised at the maximum of the $12 million target.
The Lykos IPO offer received very strong investor interest and was heavily oversubscribed. Unfortunately this means that some applicants will have some or all of their application funds returned shortly.
Lykos offers investors exposure to a unique portfolio of battery and precious metals exploration projects in the highly prospective Tethyan metallogenic belt within Bosnia and Herzegovina.
The Company’s three projects – Sockovac, Sinjakovo and Cajnice – are located close to modern infrastructure including transport connections to Europe’s battery supply chain.
All projects have historical drilling but remain untouched by modern exploration methods and techniques. Historical data collated by the Company’s in-country geologists highlights the potential for the delineation of deposits of key battery metals that are essential to the clean energy revolution as well as potential for precious metals.
Lykos has outlined an aggressive two-year exploration works program and will commence exploration immediately post-listing, with an initial focus on confirming the historic high-grade nickel hits at Sockovac.
Lykos Metals Managing Director Mladen Stevanovic said:
“I am delighted that Lykos appears likely to list on the ASX ahead of schedule, which will allow us to get moving with our exploration program. It is incredibly pleasing to have received such strong support from investors, who recognise the significant potential for value creation at our three battery and precious metals projects in Bosnia and Herzegovina.
“As soon as we are listed on the ASX, we will commence our aggressive exploration program starting with Sockovac, which is highly prospective for nickel.
“This is an exciting time to be part of a team that is introducing a new battery metals exploration story to the ASX.”
RFC Ambrian Limited is the lead manager and corporate adviser to the IPO while Steinepreis Paganin is the Australian legal adviser to the Company.
