December 10 (SeeNews) - UK-based Adriatic Metals, focused on mineral exploration in Bosnia, said on Tuesday it expects its shares to start trading on the London Stock Exchange (LSE) on December 12.
The UK Listing Authority (UKLA) has approved the company's prospectus for the listing of company's shares on the LSE main market, Adriatic Metals said in a statement published on its website.
The mining company's shares will remain listed on the Australian Securities Exchange (ASX).
Adriatic Metals has 100% interest in the high-grade zinc polymetallic Vares project in Bosnia which comprises a historic open cut zinc/lead/barite and silver mine at Veovaca and Rupice, an advanced proximal deposit that exhibits exceptionally high grades of base and precious metals.
British media have reported that the explorer aims to raise 137 million pounds (162.7 million euro) through a combination of debt and equity, in order to build two gold and silver mines at Vares, some 50 km north of Sarajevo.
Construction of the first mine is planned to begin in spring 2021, while the construction of the second one is expected to start in 2028, news portal thisismoney.co.uk reported on Saturday.
(1 British pound = 1.18784 euro)