{"id":11377,"date":"2018-12-13T18:35:32","date_gmt":"2018-12-13T18:35:32","guid":{"rendered":"https:\/\/economicherald.net\/?p=11377"},"modified":"2018-12-13T18:35:32","modified_gmt":"2018-12-13T18:35:32","slug":"ipo-watch-gold-explorer-yandal-next-up-to-hit-the-asx-but-it-may-be-a-slow-start","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11377","title":{"rendered":"IPO Watch: Gold explorer Yandal next up to hit the ASX, but it may be a slow start"},"content":{"rendered":"

West Australian gold explorer Yandal Resources is locked in to make its ASX debut today.<\/p>\n

The prospects of doing well are not looking good though, with two of three companies that listed this week sinking below their IPO price.<\/p>\n

The gold juniors have also taken a bit of a market battering in 2018.<\/p>\n

In the past 6 months, more than 82 per cent of small cap gold stocks have lost ground<\/a>, with only 16 per cent making gains.<\/p>\n

Yandal has been admitted to the ASX following the successful completion of a $5m IPO at 20c a share<\/a> that closed oversubscribed.<\/p>\n

The company is on the hunt for new \u201cTier 1\u201d gold discoveries in the Yandal Greenstone Belt near Kalgoorlie in Western Australia.<\/p>\n

The last time major exploration programs were run on Yandal\u2019s tenements the gold price languished around $US500 an ounce; it is now more than double that at $US1244 ($1720) an ounce.<\/p>\n

Surrounded by some large gold mines \u2014 including the 10 million-ounce Jundee and 2.7 million-ounce Darlot operations \u2014 Yandal says its projects are prospective for large, Tier 1 deposits.<\/p>\n

But it is also looking to make cash quickly by developing smaller gold deposits and trucking ore to third party processing plants, which reduces start-up costs significantly.<\/p>\n

A tough start<\/strong><\/p>\n

Foetal listening device maker HeraMED (ASX:HMD) made its debut on Wednesday<\/a> and closed its first day down 10 per cent at 18c, with 4.4 million shares changing hands.<\/p>\n

On Thursday the Israeli company edged back up to 19c.<\/p>\n

Dutch company Tymlez (ASX:TYM), meanwhile, lit up the boards on Thursday, immediately slumping to a low of 15c \u2014 a nearly 32 per cent drop on its IPO price<\/a>.<\/p>\n

Tymlez offers a platform that allows companies to build and integrate blockchain-based technologies into existing IT environments.<\/p>\n

Blockchain is best known as the basis of cryptocurrency transactions but it\u2019s increasingly used in other ways such as verifying supply chain data, payments and digital contracts.<\/p>\n

Subscribe to our\u00a0daily newsletter<\/a><\/strong>
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The only one to escape the first day blues was Brain scanner EMvision Medical Devices (ASX:EMV).<\/p>\n

EMvision also started trading on Thursday<\/a> and was off to a solid start, gaining 16 per cent to hit an intra-day high of 29c not long after ringing the bell.<\/p>\n

The company is developing medical imaging technology that utilises electromagnetic microwave energy to create images of the human brain and other organs.<\/p>\n

The post IPO Watch: Gold explorer Yandal next up to hit the ASX, but it may be a slow start<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

West Australian gold explorer Yandal Resources is locked in to make its ASX debut today. The prospects of doing well are not looking good though, [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11378,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nIPO Watch: Gold explorer Yandal next up to hit the ASX, but it may be a slow start - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=11377\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IPO Watch: Gold explorer Yandal next up to hit the ASX, but it may be a slow start - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"West Australian gold explorer Yandal Resources is locked in to make its ASX debut today. 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