Business
Admission to AIM
Admission to AIM.
About this update from Arkle Resources Plc
[{"type":"text","content":"\n Connemara Mining Company plc\n31 July 2007\n\n\n\nConnemara Mining Company Plc\n('Connemara' or 'The Company')\n\nFundraising and AIM Listing\n\nConnemara Mining Company Plc, a zinc mining and exploration company which has\nacquired blocks of assets in three specific regions of Ireland, is very pleased\nto announce its admission to the AIM Market this morning, raising £1m.\n\nPlacing Price per Ordinary Share 35 pence\nNumber of Ordinary Shares in issue on Admission 15,176,710\nGross proceeds of the Placing £1,000,000\nMarket capitalisation at the Placing Price £5,311,849\nLSE stock ticker CON\n\n\n\nINVESTMENT CASE\n\nZinc: a high value commodity\n\n• Primary industrial applications include galvanising, brass production and die\ncasting\n• Demand has outstripped supply and is expected to increase due to projected\nChinese and Indian industrial growth over the next decade\n• Supply / demand imbalance has caused prices to soar - rise of $1200 per tonne\nto $3400 since 2003 - and still rising\n\nIreland is a proven zinc producing region:\n\n• Historically world class zinc province\n• Currently producing 40% of Europe's zinc\n• Substantial mines are already in place:\n- Boliden/Tara mine 5th largest zinc mine in the world Anglo American produce at\n2.7m tonnes of ore grading 12.3% zinc at one mine\n- Lundin/Lisheen mine is 5th largest in Europe, producing 620 000 tonnes at\n11.8%\n• 26 companies currently prospecting in Ireland - underlining regional potential\n\n23 highly prospective licences and JV with major international miner\n\n• 22 zinc exploration licences and 1 gold exploration licence\n• 16 licences are adjacent to Xstrata / Minco high grade discovery at Pallas\nGreen - Counties Limerick / Cork 'Rathdowney Trend'\n• Joint venture with Teck Cominco (TCM) (C$12bn market cap Canadian listed\nminer) to explore 15 of these zinc licences\n• 6 further licences have also been applied for\n\n\nCONNEMARA OPERATIONS\n\nJoint venture operations\n\n• Hugely successful JV partner. TCM is a C$12bn Canadian international mining\ncompany. TCM is a fully integrated mining and metals company, involved in\nexploration, production, refining, smelting and sales. Operating\ninternationally, zinc is a particular corporate focus.\n• Connemara is free carried on first $3m expenditure on JV blocks\n• Agreement commi...