29 Sep Africa-focused explorer Critical Metals finally lists on London Stock Exchange
Critical Metals has today listed on the Main Market of the London Stock Exchange after the IPO was delayed by 12 months due to political uncertainty in the UK in 2019 and the COVID-19 pandemic this year.
The junior explorer listed in London after an £800,000 fundraise at 5p per share, and will now target mine acquisitions in Africa producing critical minerals including copper, cobalt, tin, tantalum, niobium, vanadium, rare earths, beryllium, cesium, or antimony
“COVID-19 worked in our favour, because COVID-19 showed how dependent the world is on Chinese supply lines,” said Critical’s CEO Russell Fryer. “We need to rethink our economies.
“I believe that we have an opportunity to take advantage of the growing demand for critical metals, by identifying near-term brownfield, cash flow deposits and bringing them into production,” he said last week.
The London IPO is expected to be the first of a flurry from the mining sector after a period of delays and reduced activity due to the pandemic and uncertainty around the Brexit process.
Madagascar-focused Tirupati Graphite also announced its intention to list in London and is targeting an IPO by the end of October. CEO Shishir Kumar Poddar said he sees Africa becoming a key graphite-producing region as demand rises from the energy storge and EV sectors.