05/04/2005 Alexander Mining plc closes the London market
5 April 2005
Alexander Mining plc closes the London market
Alexander Mining is a copper, gold and silver mining company, currently focused on South America. The company was founded by Dr Matthew Sutcliffe, a qualified mining engineer, and former director of corporate finance at Evolution Securities.
Alexander’s strategy is to grow through the acquisition and development of quality copper, gold and silver assets in emerging markets where management have considerable experience.
£20million (£18.5million net of expenses) was raised through a placing at 30p per share. On admission the market capitalisation of Alexander Mining at the placing price was £40.36m. The proceeds of the placing will be used to pursue the development of the Juramento Copper deposit and to drill the additional assets in Argentina and Peru.
Commenting on the flotation, Matt Sutcliffe, Alexander’s Chairman and Chief Executive, said “I am delighted with the response to Alexander’s flotation, and our management look forward to aggressively pursing the development of our assets into profitable mining ventures. Today’s flotation marks the beginning of an exciting phase for the company and the end of a very exciting time marketing Alexander in preparation for today’s IPO.”
Evolution Securities was the company’s nominated advisor and broker.