THE BOURSE WHISPERER: ASX-listed Wolf Minerals is soon to be a multi-listed company as it seeks admission to the AIM market of the London Stock Exchange.
AIM (Alternative Investment Market) is the London Stock Exchange’s international market for smaller emerging companies.
It is considered to be the most successful growth market in the world, and since its launch in 1995, more than 3,000 companies from around the world have listed on its boards.
Wolf said it expects to gain admission to the AIM market from 8.00am (United Kingdom time) on 30 November 2011, and that trading of the company’s shares on AIM will also commence as of this date.
Wolf will trade on AIM under the ticker WLFE.
The company’s AIM listing is a compliance listing and is being managed by leading London-based investment bank Evolution Securities.
Wolf is seeking to list its entire existing ordinary share capital on AIM and has indicated that there will be no capital raising associated with the listing.
“Having delivered the Definitive Feasibility Study for the Hemerdon project in Quarter Two this year, we believe a London listing is a logical next step for the company,” Wolf Minerals managing director Humphrey Hale said in the company’s announcement to the Australian Securities Exchange.
“Wolf is committed to developing the project as a major mine in the south-west of England, and also contributing to the rejuvenation of mining in the country as a whole.
“We look forward to sharing our success with investors whilst simultaneously enjoying the benefits of UK capital market access.”
Wolf’s core project is the world class Hemerdon Tungsten and Tin project located in the county of Devon, in the United Kingdom.
Source: Company announcement
The company is focused on developing the project into a large scale, open pit mining operation, which it envisages becoming a major new source of supply of tungsten for global manufacturing and industry.
The Hemerdon project has been mined and explored at times throughout the 20th Century.
Wolf has built up a JORC defined model, leading to the successful completion of bankable feasibility study that it claims identifies Hemerdon to be a highly economic potential producer of low cost tungsten located near a range of viable infrastructure routes.