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At the time of print, Stage 1 building from partners during FY2018/19 and we shifting market windows.
works at the Wickepin kaolin project, convinced one of those offtake partners “The early economic recovery and a
220km south-east of Perth, had started to come in and participate in the IPO as liquid market have led to opportunities
with a crew and equipment ready to start well to cornerstone it to give the market particularly as people are looking for
building the kaolin production plant in confidence about not only their offtake where they can invest capital so compa-
February. but also in the IPO itself. As soon as that nies must be really organised and IPO-
“I think 2020 chose us rather than us happened it was a matter of getting the ready,” Athanasoff said. “They need to
choosing 2020 to list,” Sorensen told company to list.” be already operating and behaving as a
Paydirt. Gilbert+Tobin partner Julie Athanasoff listed entity so that the process is done in
“Since 2016 we have been working worked on several resources IPOs in the minimum timeframe.
pretty hard on this new K99 process and 2020. She told Paydirt companies who “It can depend on how long they’ve
by 2017 we were really quite successful had fully prepared for listing were those been thinking about listing, but most
from a quality point of view and market which could take advantage of quickly clients are sophisticated so have gone
development. We really through the process and
started hitting our straps been talking to advisers to
ed to list the company and “ The early economic recovery through an IPO process
get IPO ready.”
and it was pretty apparent
going
For
Sorensen,
during 2018 that the de-
mand was going to outpace
our ability to supply from our
for the first time with a spe-
and a liquid market have led to
existing operations.
cialist company like WAK,
“The directors of the com-
engaging leading experts
opportunities particularly as people
pany thought that we want-
was critical.
fund the expansion from the are looking for where they can invest in the industry as advisors
[Genuity
“Canaccord
listing. capital so companies must be really (Australia) Ltd] came to the
“There is a lot involved in organised and IPO-ready. fore as lead manager of the
listing a private company IPO because they knew that
for the first time. We se- the investors wouldn’t be
cured a couple of offtakes that familiar with what we

A total of 24 new resources floats listed
on the ASX in 2020. Megado Gold Ltd was
one of them with a gold project in Ethiopia

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