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Marula Mining seeks listing on the Aim

3rd February 2023

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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AQSE-listed Marula Mining intends to seek a listing of its ordinary shares on the LSE’s Aim market, subject to the preparation and acceptance of all the requisite documentation and regulatory approvals.

Marula is an Africa-focused battery metals investment and exploration company and has interests in several high-value mine projects in Africa – the Blesberg lithium and tantalum mine, in South Africa; the Nkombwa Hill niobium and tantalum, rare earth elements and phosphate project, in Zambia; and the Kinusi copper mine and Bagamoyo graphite project, in Tanzania.

Cairn Financial Advisers was retained as the nominated adviser for the listing.

Mining capital markets law firm Memery Crystal has been appointed as the company’s legal advisers.

Accounting firm Saffery Champness has also been appointed as reporting accountant.

Monecor, trading as OvalX, will continue in its role as the company’s broker, with a joint broker set to be appointed in due course.

Geological technical consultants are set to be appointed later this month and will complete a detailed competent persons report on Marula’s portfolio of battery metals-focused assets.

The Aim is currently home to about 852 companies with a combined market capitalisation of almost £135-billion, and Marula’s proposed listing is said to be beneficial to the continued growth of the company and development of its mining projects in East and Southern Africa.

“At Marula, we strongly believe that a listing on the LSE’s Aim market should prove to be transformational for the company. Aim has established itself as one of the world’s most successful and established markets for dynamic high growth companies, supported by a significant community of companies, advisers and investors.

“Marula is going from strength to strength and continues to deliver on its strategy, which is why we believe a listing on Aim is in line with this strategy as we continue to reach milestones, and seek out exposure to a larger pool of investors,” comments Marula CEO Jason Brewer.

“We believe that an Aim listing provides the company with the chance to access a diverse set of investors and increased liquidity, and offers a new pool of investors the opportunity to invest in our critical mineral assets, as we collectively push toward the global green transition.

“Our recent production of lithium from the Blesberg project is proof of our commitment to this, as we seek out near term growth opportunities in and out of our existing portfolio. With our clearly defined growth strategy, and positive market setting for the commodities in which we are focused, we believe the company is well positioned to thrive on a market where, traditionally, mining companies have succeeded,” he adds.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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