Cornish Metals float on AIM
Cornish Metals is a Canadian headquartered mineral exploration and development company focused on its mineral projects in Cornwall, United Kingdom with its flagship projects being the United Downs Project and the South Crofty Project.
It also maintains an interest in the Nickel King project, an exploration property which is prospective for nickel in the Northwest Territories in Canada and the Sleitat project, an exploration property which is prospective for tin and tungsten in Alaska. In addition, the Group holds a royalty on two non-producing tungsten assets located in the Northwest Territories and the Yukon, Canada.
The Perivan shareholder communications team were delighted to work with SP Angel who were appointed Nominated Adviser and Joint Broker on the successful publication of the 274-page admission document.
Admission to Trading on AIM
On 16th February 2021, admission and dealings commenced in the Ordinary Shares on AIM by way of an oversubscribed fundraising of 117,226,572 New Shares each at 7 pence per share which raised a total of £8.2 million.
The IPO proceeds will be used to start drilling at the United Downs copper-tin project in Cornwall in late March or early April, Cornish Metals said. The company hopes to determine the resource potential of a 1,000 metre strike section of the target area and conduct initial field work on other high priority exploration targets within trucking distance of the South Crofty mine in Cornwall.
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