Rubix Resources RB6

RUBIX IPO Summary RB6:

Capital raise - $4.5m
M.Cap - $7m
Enterprise Value (EV) - $2.5m
Shares on Issue (SOI) - 35m
Assets - Gold, Nickel, Lithium, Copper & Zinc

Have secured myself an allocation in Rubix (RB6) & will be watching this one closely when it lists on the ASX in December.

Expecting it to come on with some sort of premium that's for sure. If it lists at < 28c i will most likely consider the opportunity to top up otherwise i will simply hold my allocation.

The low SOI is intriguing. A few months ago Kuniko (KNI.ASX) a Vulcan spin off listed on the ASX with a raise of $7.88m and 39.43 million ordinary shares. Investors will be familiar with what followed. The low SOI may see shares in Rubix targeted by traders since 28.8% of the issued share capital will be escrowed & the remainder will be held by senior management and IPO investors.

At the IPO price of 20c investors are getting exposure in Gold, Nickel, Lithium, Copper & Zinc. A market capitalisation of $7m with an EV of $2.5m represents excellent value in my opinion. From a management perspective, it is worth noting Eddie King will be getting involved in RB6 as Executive Chairman. Eddie's track record is quite impressive (EFE, QPM, RAG, BCB & HWH) and he has a solid investor base.

Excellent exposure to a wide variety of commodities. Would not surprise me if this comes on at 40c Day 1, however if it goes under the radar i will take the opportunity to top up.

As always DYOR