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Golden Dragon Mining is an Australian exploration company incorporated in 2022, holding a portfolio of gold, nickel, lithium and critical mineral tenements across Western Australia. Its assets include the Cue Project, Stella Range Project, and Narndee Fenceline Project.

The company has 18.1m shares on issue pre-IPO, held by founders, vendors, seed investors, and its lead manager. Through the IPO it is offering 25m new shares at A$0.20, seeking to raise A$5.0 million, which will represent ~56% of post-IPO issued capital.

• Issue Price: A$0.20
   
• Capital Raised: A$5.0m (no oversubscriptions accepted)
   
• Expected Offer Close: 7 Oct 2025 (Closed)
   
• Planned Listing Date: 21 Oct 2025 

Sentinel Metals is an Australian mineral exploration company with projects across Western Australia. Its focus is on gold, nickel, copper, and critical minerals, positioning it within both traditional and energy-transition commodities. 

 Sentinel Metals gives investors speculative leverage to multi-commodity exploration in WA. The relatively larger raise (up to A$10m) compared to peers provides a stronger funding base for exploration programs, but repayment of legacy loans absorbs ~A$1.8m, reducing the immediate spend on drilling. 

• Issue Price: A$0.20 per share
   
• Capital to be Raised: Up to A$10.0m (Minimum subscription A$6.0m = 30m shares; Maximum A$10.0m = 50m shares)

• Expected Offer Close: 8 Oct 2025 (Closed)

•  Planned Listing Date: 28 October 2025 

 Right Resources is an Australian mineral exploration company with projects in the Lachlan Fold Belt (NSW), a region well-known for gold and copper mineralisation. Its portfolio covers multiple exploration licences including the Pilot Project, Bullseye Project, Storm Project, Gilmore, Green Hills, Burra Creek, Boorook, and Boonoo Boonoo prospects.

Right Resources enters the ASX with a larger raise (A$10m) than many micro-cap peers, providing a meaningful two-year runway for exploration. The Pilot Project is fully permitted for a 4,000–4,800m maiden diamond drilling program, targeting high-grade gold at depth beneath historic workings. Other projects (Bullseye, Storm) add copper-gold optionality. 

• Issue Price: A$0.20 per share
   
• Capital to be Raised: Up to A$10.0m (no oversubscriptions accepted)

•  Offer Close: 20 October 2025 (Closed)

•  Listing Date: 29 October 2025 

Equus Energy Limited is advancing the Equus Gas Project offshore Western Australia, a large-scale gas and LNG opportunity positioned near existing infrastructure in the Carnarvon Basin. The company is seeking to raise A$15 million at A$0.20 per share to fund FEED studies, subsurface appraisal, and commercial readiness activities. Our Pre-IPO Intelligence Report provides a detailed breakdown of the IPO structure, valuation, project strategy, and funding outlook—offering investors an independent perspective on one of 2025’s most significant Australian energy listings. 

• Issue Price: A$0.20 per share
   
• Capital to be Raised: Up to A$15.0m (no oversubscriptions accepted)

•  Offer Close: 3 November 2025 

•  Listing Date: 24 November 2025 

 Black Horse Mining Limited is targeting A$8 million at A$0.20 per share to accelerate exploration at the Mount Egerton Gold Project in Victoria’s historic Bendigo–Ballarat gold belt. Backed by cornerstone investor Province Resources Ltd, the company enters the market with a post-IPO valuation of approximately A$12.9 million. The Equidex Analytix Pre-IPO Intelligence Report dissects the offer structure, capitalisation, project potential, and risk profile—delivering clear, data-driven insights for investors seeking early exposure to Australia’s next generation of gold explorers.  

• Issue Price: A$0.20 per share
   
• Capital to be Raised: Up to A$8.0m 

•  Offer Close: 7 November 2025 

•  Listing Date: 21 November 2025