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Home::Alliance News::Cradle Arc Formerly Alecto Minerals Set To List On AIM NexBookmark this page
Alliance News
Cradle Arc, Formerly Alecto Minerals, Set To List On AIM Next Week (ALLIPO)
Fri, 19th Jan 2018 10:24
LONDON (Alliance News) - Cradle Arc PLC, an Africa-focussed copper and gold exploration and development company, said on Friday that it intends to raise GBP2.4 million in an initial public offering of share on London's AIM market.
The miner said it anticipates a post-listing market capitalisation of GBP20.1 million.
A total 201.3 million shares in Cradle Arc, which was previously known as Alecto Minerals PLC, are expected to be admitted to trading on Wednesday next week.
In November 2017, Cradle Arc completed the acquisition of Cradle Arc Investments (Pty) Ltd, which will become the holding company of the 60% interest in the Mowana mine.
Cradle's principle asset is its 60% interest in the Mowana copper mine, in north east Botswana, which has a JORC mineral resource estimate of 72.1 million tonnes containing 686,000 tonnes of copper at an average grade of 0.94% and a further 99.8 million tonnes containing 758,000 tonnes at 0.76%.
By Toby Woodall; tobywoodall@alliancenews.com
Copyright 2018 Alliance News Limited. All Rights Reserved.
Alliance News