|
Switch Metals PLC on Thursday announced it started to trade on London’s AIM market. The mining exploration company focused on developing battery and technology metals mines in Ivory Coast said it successfully raised £2.0 million at 7.5 pence per share. The move to trade on London’s AIM market comes after special purpose acquisition firm Oneiro Energy PLC, which formerly traded on London’s Main Market, struck a deal to buy Switch Metals Cote d’Ivoire Sarl. On admission on AIM, Switch Metals had a market capitalisation of around £8.8 million. The company’s strategy involves developing industrial tantalum production from shallow coltan placer deposits at the Issia project to provide initial cashflow. Chief Executive Officer Karl Akueson said: ‘We have assembled the largest tantalum/lithium licence package in [Ivory Coast], an attractive mining jurisdiction, and a country I am proud to call home. We have near term production potential, particularly with low-capex, low-cost coltan [tantalum plus niobium] production from a shallow source, coupled with significant exploration upside.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
