Future Metals NL (ASX:FME)’s ordinary shares have been admitted to trade on the AIM market of the London Stock Exchange plc.
Admission will start at 8:00 am London time today.
Australian investors liked the news with the stock trading 2.44% higher at A$0.21 closing in on midday trade.
"PGMs in high demand"
“We are pleased that the process to have Future Metals readmitted to trading on AIM has been completed,” Future Metals chairman Greg Bandy said.
“The board of Future Metals is grateful for the ongoing support from its existing and loyal shareholders in the UK and looks forward to reporting on the advancement of the Panton PGM Project.
“The company has 100% ownership of the Panton PGM Project which has a substantial and high-grade JORC mineral resource estimate which is incredibly exciting for Future Metals given PGMs are in high demand.”
Strand Hanson Limited is acting as FME’s Nominated & Financial Adviser in relation to the admission, with W H Ireland Limited acting as the company’s broker from admission.
FME’s ordinary shares will continue to trade on the ASX under the ticker FME.
Panton Project
With the listing taken care of, FME will turn its full attention to advancing the 100%-owned Panton PGM Project in Western Australia.
Panton has a JORC mineral resource estimate of 14.32 million tonnes at 4.89 g/t PGMs (6E), 0.31 g/t gold and 0.274% nickel.
The project holds Mining Leases M80/103, M80/104 and M80/105 covering an area of 23 square kilometres.
FME will use pre-existing cash reserves to implement an exploration and development plan for Panton consisting of further drilling, metallurgical test-work, process design and mining, development and other technical studies.
Read: Future Metals to list on AIM this week as drilling continues at Panton PGM Project