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Medcaw Investments PLC on Friday announced plans to buy a majority stake in a gold project in Ontario, Canada and transfer its shares to London’s AIM, away from the main market. The investment company focused on acquiring prospective mining projects in the precious metals sector proposed to buy 90% of the Eagle Lake gold project in Ontario. The project comprises 95 mining claims covering about 1,960 hectares and is located within the Wabigoon Greenstone Belt of Ontario. The initial transaction is conditional on Medcaw cancelling its listing on London’s Main Market and listing on London’s AIM market instead. Medcaw requested its shares to be suspended on London’s Main Market. The total sum for the transaction is £4.2 million, with £4.0 million of that to be satisfied via an issue of new Medcaw shares priced at 1.5 pence each. These will be issued on admission to AIM. Medcaw last had a market capitalisation of around £610,000 on the London Stock Exchange. The long-stop date for completion is October 31. Medcaw Director Charlie Wood said: ‘We believe the proposed acquisition of the Eagle Lake gold project comes at a highly attractive point in the gold cycle. Gold prices remain strong, underpinned by macroeconomic uncertainty, central bank buying and sustained investor demand for hard assets. ‘Against this backdrop, there is a clear lack of high-quality, pure-play gold exploration companies available to UK public market investors. Eagle Lake offers exposure to a proven Canadian gold jurisdiction with compelling historical exploration results and significant scope for modern exploration techniques to add value. ‘We see this transaction as an opportunity to reposition Medcaw as a focused gold exploration company on AIM, at a time when investor appetite for quality gold assets is returning.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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