LinQ is the ASX’s first new gold listing this year and it’s got a big drawcard

LinQ Minerals will use capital from its IPO to fund drilling at its flagship Gilmore project.

LinQ Minerals will use proceeds from its $10m IPO to support an extensive drill program across its flagship Gilmore project. Pic: Getty Images

• LinQ Minerals lists on the ASX after raising $10m through IPO priced at 20c per share

Special Report: LinQ Minerals has become the first gold explorer to list on the ASX in 2025 after raising $10m through a heavily oversubscribed initial public offering priced at 20c per share.

In what might be a good sign for other gold hopefuls, the IPO drew $16.3m in applications and brought a dozen international and domestic institutions onto its register.

Unlike many explorers, LinQ Minerals (ASX:LNQ) is starting its career with an extensive ~597km2 tenement package and significant existing resources at the flagship Gilmore project.

Gilmore currently has six deposits with contained JORC resources totalling ~3.7Moz gold and ~1.2Mt copper – the fifth largest resource after such giants as Cadia, Cowal and Northparks in the famed Macquarie Arc of the Lachlan Fold Belt in New South Wales. It also hosts a number of advanced exploration prospects.

Additionally, the +60km belt covered by its tenements hosts more than 20 known prospects that offer opportunities for copper-gold porphyry and epithermal gold deposits and prospects.

Regional geological setting of the Gilmore project showing neighbouring projects. Pic: Linq Minerals

Jumping right into exploration

With its portfolio of advanced prospects, it is no surprise that LNQ is leaping straight into exploration post-IPO.

Proceeds from the IPO will support a +16,000m multi-phase drill program across the central and southern zones at Gilmore that is expected to start in Q3 2025.

This will include infill and extensional drilling targeting the previously mined open pit at Gidginbung, the richest gold deposit on the tenement package with 21Mt at 1g/t gold and 0.1% copper, to increase resource confidence and size.

Other targets include follow-up drilling at Mandamah, the new Donnington gold-rich porphyry discovery and the Monza porphyry-related copper-gold prospect.

Funds will also be allocated to spectral data programs, induced polarisation surveys and reconnaissance aircore drilling across greenfield targets.

In addition, the company will carry out preliminary technical studies to evaluate potential development pathways of the southern zone.

“We are excited to hit the ground running with a large-scale drill campaign targeting resource growth and new discoveries across the Gilmore project,” founder and executive chairman Clive Donner said.

“With over 40 years of geological data, a JORC resource of 516Mt containing ~3.7Moz gold and ~1.2Mt copper, and key infrastructure nearby, we believe Gilmore offers an outstanding opportunity in a globally recognised gold and copper jurisdiction.”

This article was developed in collaboration with LinQ Minerals, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as LinQ is the ASX’s first new gold listing this year and it’s got a big drawcard