Business
Admission to trading on AIM
Admission to trading on AIM.
About this update from Switch Metals Plc
[{"type":"text","content":"\n\n3 April 2025\n \nSwitch Metals plc\n(\"Switch Metals\" or the \"Company\")\n \nCompletion of the acquisition of Switch Metals Cote d'Ivoire Sarl\nand\nAdmission to trading on AIM\n \nSwitch Metals plc (LSE:SWT) is pleased to announce the expected completion of the acquisition of Switch Metals Côte d'Ivoire Sarl, a mining exploration company with assets in Côte d'Ivoire, as well as the completion of a £2.0 million fundraise and the admission of the Company's ordinary shares to trading on the AIM market of the London Stock Exchange at 8.00 a.m. today (\"Admission\") under the Company's new name \"Switch Metals Plc\" and the TIDM code \"SWT\".\n \nHighlights\n \n· The Company's focus will be on developing battery and technology metals mines in Côte d'Ivoire where the principal place of operations of the Company will be from Admission:\n \no Licence and application portfolio comprised of three primary projects: Issia, Tiassalé and Bouaké, spanning approximately 3,172 km².\n \no The Company's strategy involves developing ethical industrial tantalum production from shallow coltan placer deposits at the Issia Project in order to provide initial cashflow, thereby hedging exploration risk and reducing future fundraising requirements to develop the rest of its large exploration portfolio.\n \no Switch Metals' main prospects lie in its three core exploration projects Issia, Tiassalé, and Bouaké. At Issia the plan is to define a resource and complete technical and economic studies on the shallow surface coltan placer deposits in the near-term, in parallel to demonstrating further upside potential in the deeper hard rock targets.\n \no Côte d'Ivoire is one of the fastest growing African economies and an attractive mining jurisdiction. The Company's projects cover multiple historic occurrences of tantalum, niobium, lithium, nickel, cobalt, copper and manganese identified in Côte d'Ivoire.\n \n· Successful fundraise of £2.0 million (before expenses) at 7.5p per share (the \"Issue Price\") through the issue of new Ordinary Shares in the Company (the \"Fundraise\").\n \n· The net proceeds of the Fundraise will be used to progress exploration activities at the Issia Project, specifically to define a first coltan resource from sha...