Meantime Resources targets precious and base metals as plots AIM float
(Alliance News) - Meantime Resources PLC on Tuesday announced a plan to list on London's junior AIM market, with the firm targeting an acquisition of a precious and base metals asset.
Meantime said it will be an investing company under AIM rules.
"The company does not currently own any trading businesses or operational assets but does have two trading business subsidiaries, neither of which have traded or generated revenue to date. The company expects to achieve its investment objectives and strategy and deliver capital appreciation by undertaking an acquisition which will result in the company becoming an operating company," Meantime said in a filing.
"The company intends that the acquisition will focus on precious and base metals assets, with a primary focus on gold and associated metals occurring within the same deposit or mineralised system, which may include base metals."
The firm said it envisages a total investment size of up to USD1 billion including acquisition costs and capital expenditure.
Its chief executive officer is Martin Horgan, while its non-executive chair is Martyn Konig.
Meantime did not state whether it will raise any capital in its float, nor did it reveal an anticipated market capitalisation.
It said it plans to list in "mid-October".
By Eric Cunha, Alliance News news editor
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