Infini Resources is an exploration company which listed on the ASX on 15 January 2024 raising $5.3 million. It listed with eight projects across Canada and Australia that focus on uranium and lithium. Fast forward to now, it is building significant value for shareholders with its flag ship uranium asset Portland Creek.
Its eight main projects are: Pegasus Lithium Project, Parna Lithium Project and Yeelirrie Project located in Western Australia; the Des Herbiers Project and Valor Project located in Qubec, Canada; the Tinco Project located in Saskatchewan, Canada; the Portland Creek Uranium Project located in Newfoundland and Labrador, Canada; and the Paterson Lake Project located in Ontario, Canada.
Chief executive officer Charles Armstrong is a geologist with 10 years’ experience across a range of commodities and has held exploration geologist roles with major mining companies including BHP Billiton and Northern Star Resources. He was brought on as CEO as part of Infini Resource’s public listing and generated the Portland Creek Uranium Project as a consultant in the year leading up to the IPO. He was appointed to the position of managing director in 2024.
If there is one learning he takes out of the IPO process, it is that preparation is key.
“We were fortunate in the team at HLB Mann Judd in Perth, as they were able to guide us through the process. Having dedicated advisers steering the course to monitor and prepare the financial information is crucial. Although often overlooked, or not seen as critical, it can slow progress down if audits need to be completed, and financial information is not accurately collated.
“Our ASX listing in January followed several months of hard work by the management team, and its advisers, culminating in a successful IPO and the establishment of a new-ambitious and strategic energy metals explorer,” he said.
“Infini’s key advisers had significant experience with the IPO process – and it was very helpful to ensure a smooth process.”
The company conducted a further $3.4 million capital raising in 2024 to facilitate additional exploration at its highly prospective Portland Creek Uranium Project in Canada.
“We were thrilled to successfully complete this strategic capital raise at a time when the company had just recently announced the world’s highest grade uranium soil anomaly sitting close to major structural targets,” he said.
“This new investment not only validates the potential of our Portland Creek Uranium Project but also positions us strongly to capitalise on the growing demand for reliable energy.”
Earlier in the year, Infini Resources also announced that it had extended the Yeelirrie uranium project in Western Australia by over 350% via the staking of four large extensions of radiometric anomalism. The identification of that expansion opportunity followed the appraisal of regional radiometric data as part of an ongoing desktop geophysical study.
“The Yeelirrie North Project expansion represents an excellent low-cost opportunity for the company, timed when the uranium sentiment in Western Australia is experiencing positive change,” Armstrong said.
“The total target exploration inventory at Yeelirrie North has grown to an impressive twelve areas in a very short amount of time. These licenses now provide the company with the opportunity to potentially discover new uranium occurrences on the doorstep of the world class Yeelirrie Uranium Deposit.”
Armstrong said that while the IPO had some challenges, in general it was a positive experience and an educational one considering it was his first.
“There were some delays, but I doubt any IPO goes completely to plan, so they were somewhat expected. Having the assistance of HLB Mann Judd as our auditor and investigating accountant for the IPO helped the process go smoothly,” he said.
When asked what recommendations he has for companies considering an IPO, he is firm: “Having knowledgeable key advisers – and being realistic on timeframes – was essential to success.”
He concluded: “The capital from the listing and our further capital raising this year, which included $1 million in commitments from the company’s directors, has enabled us to aggressively pursue what may be a new high grade uranium discovery at Portland Creek in Newfoundland, Canada.”
Learn more about Infini Resources.
This case study was first published in the 2025 IPO Watch Australia Report.