Greenland gold miner AEX Gold eyes London listing
JOHANNESBURG – AEX Gold, a gold exploration and mining company focused on Greenland, said on Tuesday it plans an initial public offering (IPO) in London next month.
AEX said it would seek admission to the London Stock Exchange's small company sub-market, AIM, and conduct a placement of common shares to raise 45-million pounds.
The company said it aimed to "leverage its first mover advantage in Greenland, underpinned by the previously producing Nalunaq asset, to build a full-cycle gold mining company in Greenland".
The Nalunaq mine, which AEX plans to restart, produced around 350 000 oz of gold between 2004 and 2009, and has an inferred resource of 250 970 oz of gold, it added.
Greenland made headlines last year when US President Donald Trump floated the idea of buying the resource-rich autonomous Danish territory. Denmark's dismissal of the idea caused Trump to cancel a planned visit to Copenhagen.
But the US military then conducted an aerial survey of Greenland to assess the vast arctic island's mineral potential, as part of an agreement between the two governments.
AEX Gold's listing will come after IPO volumes in Europe halved in the first half of 2020 compared to the same period last year.
Bankers say only select companies with strong, counter-cyclical stories can get deals away in what remains a highly volatile marketplace.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation