Leeuwin Metals (ASX:LM1): best performing IPO in 2023 so far


The 2nd annual Super PITch event at Digger & Dealers in Kalgoorlie provides mining companies five minutes to ‘pitch’ their company’s story to investors.

Created by Discovery Capital Partners and Corporate Storytime, this year’s event is sponsored by The Market Herald and RSM Australia

Sonia Madigan:

Welcome to the Kalgoorlie Super PITch event, I’m joined by Chris Piggott and Chris
is with Leeuwin Metals (LM1).

Now, Leeuwin only IPO’d in March and it’s the best-performing IPO so far in 2023.

Chris, are you going to be able to keep up that momentum?

Chris Piggott:

Well, we certainly hope so.

We kind of live by the motto, maintain the rage.

So I think it’s done us well so far and hence why I’ve been, you know, a well-performing stock this year since listing.

Sonia Madigan:

Now, I’m going to give you one minute to pitch your company, starting now.

Chris Piggott:

Well, I think we’ve got an EV of about 16 million, so I think we’re a pretty compelling
value and it’s a simple story.

We’re a critical metal explorer in Manitoba, looking for lithium and nickel.

Our William Lake nickel project’s got a lot of all-grade intercepts and our Jenpeg
lithium project, we have a prospect there called Spodumene Island, as well as some
historic drill holes that have 20-metre wide pegmatites with Spodumene in, and historical assays that we got reassayed at one per cent plus lithium.

So I think that’s why we’re well-performing this year.

So it’s a good start.

Sonia Madigan:

So tell us about the share price and how it’s travelled so far.

Chris Piggott:

So we listed at 25 cents at the end of March.

We raised $8 million.

Discovery Capital helped us, but Glencore’s also a 10 per cent shareholder.

They liked the nickel story and they just saw us and we kind of went to them and pitched the story and I think they liked the fact that we’re hard at it and willing to commit money on exploration in the ground.

Sonia Madigan:

Now we’re at the Kalgoorlie Diggers & Dealers, are you seeing support for nickel projects here?

Chirs Piggott:

Yeah, I think it’s you know a backdrop against a choppy market at times but I
think we’re fortunate we’ve got projects that fit the mould and really kind of tap into that thematic.

You know we’re very fortunate that we’re in North America.

We’ve got lithium and nickel and we’ve got results out there that show you that we’ve got actual, real mineralisation and I think as well something we’ve really worked hard to do is frame a lot of news flow into the back end of the year.

So at our nickel project, we’ve got lots of assays outstanding currently in the lab.

We’ve got a slap of sulphide currently in the lab for assay, as well as seven historical holes that we’ve got in the lab for assay as well from our spodumene lithium pegmatite.

So you can see how at the back end of the year, there are quite a few press releases and news flow coming into the market.

I think that’s really appealing to investors, in this kind of time when there are lots of things out there, but people want real material and news flow, and we’ve got plenty of that.


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