High-flying Adriatic Metals to list on LSE
The Bosnia & Herzegovina junior Adriatic Metals will now trade on the London Stock Exchange's main market under the ticker ADT1.
Adriatic Metals (ASX:ADT) is up 188% to A$1.64 year-to-date on the Australian Stock Exchange. Last month the company released its scoping study for its Vareš Project in Bosnia and Herzegovina. The company estimates that about $180 million will be needed to construct a mine, grinding mill, project infrastructure and processing plant. The net present value of the mine at an 8% cash flow discount is estimated at $916 million, and the internal rate of return is 107.4%.
Paul Cronin, Adriatic’s Managing Director and CEO, commeneted on the new listing.
“The Vareš Project is shaping up to be one of Europe’s most exciting new mining development stories and I’m delighted that Adriatic’s shares will now trade on the London Stock Exchange alongside our existing listing on the ASX," said Cronin. "The new listing will foster interest from our existing European investor base and enable participation in the Adriatic story from new investors to support the Company in the next phase of its growth as we advance the Vares Project to production and continue our aggressive exploration campaigns.”