Page 8 - AfrElec Week 07 2023
P. 8
AfrElec INVESTMENT AfrElec
Clean energy metals miner Marula
seeks AIM listing
AFRICA MARULA Mining, an Africa-focused battery Blesberg lithium
minerals explorer, developer and miner, has and tantalum
announced its intention to have its ordinary mine in South
shares quoted on London’s Alternative Invest- Africa
ment Market (AIM).
Already listed on the Aquis Stock Exchange
(AQSE), the London-based company said join-
ing the 852-counter AIM will be beneficial to its
continued growth and development of its min-
ing projects in East and Southern Africa.
Marula has retained or appointed a number
of key partners ahead of the planned AIM listing. why we believe a listing on AIM is in line with
It retained Cairn Financial Advisers LLP as the this strategy as we continue to reach milestones
nominated adviser for the listing and Monecor and seek out exposure to a larger pool of inves-
(London) Ltd, trading as OvalX, to continue in tors,” he said.
its role as the company’s broker, with a joint bro- “We believe that an AIM listing provides the
ker set to be appointed in due course. Company with the chance to access a diverse set
It, too, plans to appoint geological technical of investors and increased liquidity and offers a
consultants later in February. The consultants new pool of investors the opportunity to invest in
will have the task to complete a detailed compe- our critical mineral assets, as we collectively push
tent persons report on Marula’s portfolio of bat- toward the global green transition.”
tery metals-focused assets in Africa. Marula says on its website that it has interests
Marula chief executive Jason Brewer said the and investments in the Blesberg Lithium and
firm believes an AIM listing will be transfor- Tantalum Mine in South Africa and the Nkom-
mational, as the market, with a capitalisation of bwa Hill Niobium, Tantalum, Rare Earths and
about $163bn, has established itself as one of the Phosphate Project in Zambia. It continues to
world’s most successful platforms for dynamic, identify investment opportunities in other mines
high-growth companies. and advanced projects and is reviewing a num-
“Marula is going from strength to strength ber of opportunities in Kenya, Tanzania, Zambia,
and continues to deliver on its strategy, which is South Africa and Zimbabwe.
Zambia gets $360,000 for copper project
TERTIARY Minerals, an AIM-listed energy copper producer First Quantum Minerals to
transition and precious metals explorer, has shortcut the exploration process with drilling
raised $361,732 through a placing of 250mn new anticipated this year on a number of projects,”
ordinary shares. he said.
Tertiary Minerals, an AIM-listed energy The rainy season in southern Africa begins
transition and precious metals explorer, has around October, ending by April the following
raised $361,732 through a placing of 250mn new year. Tertiary placed the shares at 0.12 British
ordinary shares. pence (about $0.14) each, representing a dis-
The proceeds, the company said in an update count of approximately 7.7% to the closing bid-
on February 3, will be applied to its exploration price for its shares on February 2.
programmes in Zambia and the USA. It exe- In settlement of commission payable in con-
cuted the placing through its joint broker, Peter- nection with the transaction and its quarterly
house Capital Limited (Peterhouse) of London. joint broker fees for the period for the quar-
Tertiary executive director Patrick Cheetham ter to March, Peterhouse will be issued with
said the company has scheduled field pro- 16,250,000 new ordinary shares and 8,125,000
grammes under its copper exploration in Zam- warrants.
bia to begin as soon as the wet season ends. Among the top subscribers to the placing is
“We are taking full advantage of the data UK firm, Sanderson Capital Ltd (Sanderson)
being supplied under our data sharing and tech- which currently holds 7.36% of the existing
nical cooperation agreement with major Zambia issued ordinary shares in Tertiary.
P8 www. NEWSBASE .com Week 07 15•February•2023
