Trigg’s shareholders will vote on the IPO path early next week.
The board decision to pursue an IPO follows raising of A$1.8 million in seed funding, including $1 million tipped in by CPS Capital, which should give the company sufficient to advance its earn-in for some 2668sq.km of paleochannels and playa lakes prospective for potash-rich brine.
The IPO window is likely to be in the second quarter, and managing director Keren Paterson told MNN that during the seed funding it became clear there is market support for both the company’s management and the potential for very strong margins over a long life in what is a new Western Australian sector.
The company is spending $800,000 before July 2019 to earn 80%. It has already spent half that to earn an initial 44% under...