Druces’ Capital Markets team has advised Golden Metal Resources PLC on its admission to the AIM Market. In connection with admission, Golden Metal Resources PLC has raised gross proceeds of approximately £2 million by way of a placing and subscription.
Golden Metal Resources PLC is a mineral exploration company focused on tungsten, gold, copper, silver and zinc within Nevada, USA.
The Golden Metal portfolio includes four Nevada based projects comprising the Pilot Mountain development & exploration Project, which hosts a globally significant tungsten-copper-silver-zinc Mineral Resource Estimate, and three exploration stage projects including Golconda Summit (gold), Garfield (copper-gold-silver), and Stonewall (gold-silver). Tungsten is an in-demand and critical metal. It is their opinion that the Nevada projects hold several under-explored, highly prospective tungsten, gold, copper, silver and zinc exploration targets.
Oliver Friesen, Chief Executive Officer of Golden Metal Resources PLC commented:
“We are extremely pleased with the successful admission of Golden Metal Resources to the AIM exchange here in London. Golden Metal holds a unique portfolio of exploration and development assets in mining friendly Nevada and the listing comes at a time where the world is in need of more critical metals like tungsten – which is our focus metal. It took a joint effort from our various advisors to move the Company through the admission process, including an impressive effort by Jack, Stephen and many other of their colleagues at Druces LLP – to whom I am extremely grateful. We are looking forward to the post-IPO life of Golden Metal Resources, of which Jack and the Druces team will remain an integral part.”
Druces’ Partner, Jack Dervyn commented:
“We congratulate the board and all involved on the successful admission to AIM, which truly was a collective effort. The IPO has been a key step forward for the company and we are excited to see what happens in the future. The Natural Resources sector is one of Druces key specialisms, and we were pleased we could contribute to the company’s development and look forward to continuing our close relationship.”