06/11/2009 The London Stock Exchange welcomes London Mining to the AIM Market
The London Stock Exchange would today like to welcome London Mining on its admission to the AIM Market of the London Stock Exchange. London Mining is focused on identifying, developing and operating scaleable mines to become a mid-tier supplier to the global steel industry. The Company was founded in 2005 and is based in London. Liberum Capital Limited is nominated adviser and joint broker along with GMP Securities Europe LLP as joint broker. The Company is also listed on the Oslo Axess market of the Oslo Børs.
37,239,225 existing Ordinary Shares have been placed, at GBP1.924 (NOK18) per Ordinary Share. The placing was conducted by Liberum Capital Limited and GMP Securities Europe LLP. The Company did not receive any proceeds from the placing. The placing has materially increased the Company’s free float and attracted a register of over 30 recognised institutions.
The Group focuses its activities on deliverable iron ore projects, where the key features are scaleable production, financing opportunities and a clear route to market. The Company currently has four principal projects in iron ore, which it is either developing or operating on its own or through joint ventures. The Directors believe that the total iron ore concentrate production capacity of the Group’s four principal projects (on a 100% basis) has the potential to rise from 0.4Mtpa in 2009 to 14Mtpa in 2014 and to in excess of 20Mtpa in 2018.