Papua Mining to list on AIM after placing
Papua Mining, a UK company focused on gold and copper deposits in Papua New Guinea, is seeking admission to AIM having placed 15.94m shares with institutional and retail investors.
Papua Mining, a UK company focused on gold and copper deposits in Papua New Guinea, is seeking admission to AIM having placed 15.94m shares with institutional and retail investors.
The company raised in the region of £7.0m after placing the shares at 44p each. Trading in the company's shares on AIM is expected to start on March 2nd.
The shares placed shares represent half of the entire share capital as enlarged by the placing.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Papua Mining holds mining two exploration licences in the West New Britain province on the Papua New Guinea island of New Britain, one of which is under renewal. The group also has one exploration licence in Ambunti which is located in the East Sepik province on the mainland.
The company has also applied for a further 11 licences which, if successful, would result in a total area of 4,394 square kilometres available to the company for exploration.
The funds from the placing, which will amount to £6.2m after expenses, will fund an exploration programme which is already underway, including up to 12,000 metres of drilling over the next two years.
Papua Mining's Nominated Adviser (Nomad) and broker is Cenkos Securities.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.