VBX Limited (ASX:VBX) has debuted on the ASX on Tuesday, popping nearly +15% in lunchtime trades – the latest sign that the ASX IPO market has finally hit the recovery stage of its recent doldrums.
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It’s also a sign that ever-hungry ASX explorer-watchers haven’t gone anywhere.
Spearheading the Wuudagu Bauxite Project (WBP) in WA, the company has hit the bourse boasting a 96Mtn indicated and inferred resource, and on top of that, a prefeas study already locked in pointing to a pre-tax value of $821 million.
That, surely, is part of the Oz market’s warm reception on Tuesday.
Moving to a definitive study in the second half of CY25, VBX is ultimately striving to commence bauxite production in Q4 of CY2026. (Meaning bauxite giant Alcoa will have some not-insignificant competition to keep an eye on.)
And VBX also stands poised – according to its reports – to leverage supply chain pressures.
“Bauxite market conditions remain favourable with Chinese demand reaching record levels amid Guinea supply issues and strong pricing,” the company wrote Tuesday.
“Wuudagu’s unique combination of an attractive, low silica product quality and short, efficient logistics set it apart from existing and potential suppliers into the rapidly growing bauxite market at a crucial time of increasing supply concentration and risk,” VBX founder and MD Ryan de Franck said.
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While the PFS VBX already has under its belt points to a value over $800M, it expects CapEx to get to production to be far lower at $125M – another tantalising prospect for the ASX’s newest listed player.
VBX last traded at 68.5cps.
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