(Alliance News) - Cornish Metals Inc plans an early February admission to London's junior AIM market, according to a regulatory filing on Monday.
The mineral exploration firm earlier in January first announced plans for an AIM float.
The company holds mineral rights covering an area of around 15,000 hectares in Cornwall, UK. These rights cover a number of past producing mines such as the South Crofty and United Downs group of mines.
United Downs is a near-surface, high-grade copper-tin discovery and is surrounded by past producing mines.
Concurrently with AIM admission and with approvals, including from the TSX Venture Exchange, Cornish Metals plans to raise GBP5 million though a private placement of new common shares, Conish said earlier in January. Cornish Mine's shares will continued to be listed on the TSX Venture Exchange in Canada.
The GBP5 million will be used to advance the United Downs copper-tin project.
In Toronto on Monday, Cornish shares were 8.8% lower at CAD0.16 each.
By Eric Cunha; ericcunha@alliancenews.com
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