- Adriatic Metals (ADT) has begun trading on the London Stock Exchange as of last night
- More than 177 million shares will be admitted to the Standard Segment of the Official List of the Financial Conduct Authority
- According to CEO Paul Cronin, this dual-listing will tap into Adriatic’s existing European investor base
- The company’s share price on the London Stock Exchange has closed at 88.50 Pounds, which is roughly $172
- Adriatic’s share price is down 1.83 per cent this morning on the ASX with shares trading for $1.61 apiece
Adriatic Metals (ADT) has begun trading on the London Stock Exchange as of last night under the ticker code ADT1.
A total of 177,715,987 Adriatic shares will be admitted to the Standard Segment of the Official List of the Financial Conduct Authority.
“The Vareš Project is shaping up to be one of Europe’s most exciting new mining development stories and I’m delighted that Adriatic’s shares will now trade on the London Stock Exchange alongside our existing listing on the ASX,” Adriatic Managing Director and CEO Paul Cronin stated.
“The new listing will foster interest from our existing European investor base and enable participation in the Adriatic story from new investors to support the company in the next phase of its growth as we advance the Vareš Project to production and continue our aggressive exploration campaigns,” he added.
Tamesis Partners LLP is acting as financial advisor and Locke Lord (U.K.) LLP as U.K. legal advisor to Adriatic in relation to the Authority.
The Vareš Project comprises of a historic open cut mine at Veovača and brownfield exploration at Rupice, an advanced proximal deposit with exceptionally high grades of base and precious metals.
Adriatic’s short-term aim is to expand the current JORC resource at high-grade Rupice deposit, as well as conduct exploration on a number of other prospects within the expanded concession.
The company has attracted a world class team to accelerate its exploration efforts and to quickly advance it into the development phase and utilise its first mover advantage and strategic assets in Bosnia.
Adriatic has closed on the London Stock Exchange with shares priced at GBP88.50 (AUD$172.19)
Adriatic’s share price is down 1.83 per cent this morning with shares trading for $1.61 apiece at 11:31 am AEDT.