Copper-gold opens new chapter for SQX (ASX:SQX) Resources

Copper-gold opens new chapter for SQX (ASX:SQX) Resources

February 20, 2023 0 By Rueben Hale

The time has come for copper and gold explorer SQX Resources, who have gone live on the ASX today following a successful IPO raising $5 million at 20c a share to explore exciting copper and gold porphyry targets at its Scrub Paddock prospect near the coal mining town of Nanango in the South Burnett Region in Queensland.

SQX is upbeat on bringing new life to religion by adding the shine offered by a potential gold and copper discovery.

It is a timely plan after the Queensland government vowed an end to the reliance on coal-fired power by 2035 under a 10-year $62bn energy plan with the company intent on preserving the mining community with the potential discovery of a large-scale porphyry deposit.

As demand for traditional industrial commodities – coal, oil and gas – is set to slide, potential discoveries will bring about new opportunities for the mining community of Nanango as the coal mining town slowly faces the effects of a phase-down of the coal mining industry.

The company’s two tenements have historical mine workings, known gold and copper mineralisation and are close to infrastructure.

Map of SQX Resources copper gold projects

In coal mining towns like these, where generations of locals have long been a part of the mines, potential porphyry deposit discoveries are what can keep Nanango’s proud mining community strong in the face of a country phasing out its reliance on coal.

SQX launched their IPO late last year, asking investors to tip in 20c a share for $5 million total with an expected market capitalisation of $6.25 million. The offer price included a one-for-two option with a 30c strike price.

The company intends to drill high-priority targets immediately upon listing to define an economic mineral resource.

From the same team that put together the recent success of TSXV-listed Q2 Metals Corp (QTWO.v), SQX is the next venture for the MPX team, and it’s time to get excited.

MPX identifies, acquires and invests in mineral exploration across Australia and has been behind the success of Q2 Metals, a Canadian mineral exploration company currently advancing exploration of a Lithium Project in Canada as well as two highly-prospective gold projects located in the historic goldfields of Queensland – where SQX’s Ollenburgs and Scrub Paddock prospects are based.

SQX Chair Bryan Granzien said the ASX listing is a significant milestone for shareholders and our management team.

“SQX is pleased to welcome new institutional and retail shareholders to our share register in what will be an exciting and transformational period.

“We are fully funded to explore our exciting porphyry prospects. We look forward to updating you with drill results from Scrub Paddock and other planned initiatives at both Scrub Paddock and Ollenburgs.

“I would like to thank our Lead Manager PAC Partners, our Legal Advisor CBP Lawyers, our Independent Geologist H&S Consultants, Investigating Account PKF and the SQX team for helping us achieve our IPO and ASX listing.

“The ongoing support of our foundation Shareholders has also assisted us in achieving this milestone, which is greatly appreciated.”

SQX Chair Bryan Granzien

SQX Chair Bryan Granzien

Screenshot 2023 02 20 125632

up arrow$0.135

Sector: Basic Materials
Industry: Other Industrial Metals & Mining
SQX Resources Limited operates as a mineral exploration and development company in Australia. The company explore for copper and gold deposits. It holds interest in Ollenburgs project and Scrub Paddock project located in southeast Queensland. SQX Resources Limited was incorporated in 2022 and is headquartered in Subiaco, Australia.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified. 

We are a boutique environment – the home of uncompromisingly high-quality brands spanning news, opinion, and interaction, priding ourselves on promoting discussion and understanding that facilitates growth. We work closely with our clients to really understand what they are trying to achieve and use best practice available to do that!

Contact Info

Suite 3, 47 Havelock Street
West Perth WA 6005

Stewart Walters
Managing Director
+61 414644166
Rueben Hale
Managing Editor
+61 437736098

Important Links

Follow Us