London Stock Exchange today welcomed Dalradian Resources to AIM
London Stock Exchange today welcomed Dalradian Resources to a ceremony to mark its admission to AIM. Dalradian Resources Inc. is a Canadian incorporated gold exploration and development company that is focused on advancing its Curraghinalt Gold Project located in Northern Ireland, United Kingdom.
The admission to AIM is in addition to the Company’s existing listing on the Toronto Stock Exchange and is part of a strategy to grow the business and make it more accessible to investors in the UK, Ireland and Europe.
The Company’s flagship asset is the Curraghinalt high-grade gold deposit, which has an attractive combination of high grade geology, strong return on investment, low cap-ex requirements and a location in a supportive jurisdiction for investment. Since commencing work on the project in 2010, Dalradian has raised more than £60 million; has completed 50,000 metres of drilling, three resource updates, two scoping studies; and has grown the size of the deposit six-fold.
The Company has commenced a work program with a fully-funded budget of approximately £17 million and the goal of completing a pre-feasibility study in support of a planning application for construction of an operating mine at Curraghinalt.
To date, Dalradian has invested more than £35 million in Northern Ireland, with further investment of approximately £20 million planned over the next 15-18 months. Dalradian is committed to helping to deliver further investment and jobs to the region, with plans to hire locally and build up specialised mining skills through training over the next several years.
Patrick F.N. Anderson, Dalradian's CEO, commented:
“Dalradian’s listing on the AIM market of the London Stock Exchange is the next and proper step in the evolution of the company. This listing provides easier access for local investors who want to join us in developing a modern and responsible gold mining industry here in Northern Ireland.” Canaccord Genuity acted as Nominated Adviser and Broker to the Company, Stikeman Elliott and KPMG acted as legal adviser and reporting accountant respectively. Charles Russell acted as legal advisers to the Nominated Adviser. Finsbury provided financial PR advice.