Highlights

  • Jacaranda Natural Resources listed on the ASX on 28 October 2026 after raising A$8 million at 20 cents per share.
  • First drilling at the Globe gold project in Botswana's Tati greenstone belt is due to begin within days of listing.
  • A 24-month exploration budget allocates A$2.49 million to Botswana and A$2.49 million to the White Cockatoo copper-gold project in Queensland.
  • Approvals for Botswana change of control and Queensland permit transfers remain pending but are not expected to impede early exploration.

A new copper-gold explorer hit the boards of the ASX on 28 October 2026, with diamond drilling already lined up. Jacaranda Natural Resources (ASX:JRL) listed after raising A$8 million in an initial public offering at 20 cents per share, with a rig expected on site at its Globe project in Botswana within days. The company holds assets in Botswana and central Queensland and says its pro-forma cash of about A$7.0 million funds a two-year programme across both jurisdictions.

IPO and Shareholding

The offer closed on 9 October with 40 million shares issued, taking total shares on issue at listing to approximately 65.8 million. Cornerstone investors were Ever-Sun Development (Hongkong), which committed A$2.49 million, and existing shareholder Purebond, which contributed A$700,000. Gaia Capital and Boston Global acted as joint lead managers. About 22.7 million shares are escrowed for 24 months from quotation.

Globe Project, Botswana

Globe is the most advanced asset, located in Botswana's Tati greenstone belt. Phase one comprises approximately 540 metres across eight diamond holes targeting the highest-priority gold zones. Historical work includes an RC intercept of 3 metres at 5.17 grams per tonne gold from 9 metres and rock-chip grades of up to 26.5 grams per tonne at the historic Globe Shaft. Rock chips are selective samples, so they help define targets rather than demonstrate continuous mineralisation.

The company also holds the Motloutse and Nkwe projects in Botswana's Limpopo Mobile Belt, covering more than 2,500 square kilometres prospective for copper-nickel sulphides. Both have had little modern exploration since the 1970s to 1990s. Work there begins with mapping, reconnaissance and surface sampling before drilling. A$2.49 million of the budget is allocated to Botswana exploration in total.

White Cockatoo, Queensland

White Cockatoo is a 409 square kilometre tenement package in central Queensland. Jacaranda identifies more than 20 shallow copper and/or gold targets and more than five potential porphyry copper-gold targets. Selective rock chips have returned up to 30% copper at Quartz Ridge and up to 6.9 grams per tonne gold at Tea Tree East. Fieldwork is set to begin within weeks, starting at Quartz Ridge and Old Kroombit, with maiden drilling planned for early 2027. The Queensland budget is A$2.485 million.

Pending Approvals

Several tenure matters remain open. In Queensland, transfers of the White Cockatoo permits are lodged and awaiting registration. Renewal of two permits requires relinquishing half their area. In Botswana, ministerial consent for the change of control is still pending, although the licences are registered to Jacaranda's local subsidiary and remain in good standing. Three further Botswana applications have no decision timeframe, with about A$295,000 of exploration allocated to them, to be redirected if not granted within two years. Jacaranda says these pending approvals do not impede its exploration plans.