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- Aeramentum Resources is planning to raise AU$5 million to AU$7 million through its IPO at an issue price of AU$0.2 per share.
- The proceeds from the IPO will be used to fund the drilling program at its battery mineral project in Cyprus.
- Aeromentum is targeting the European battery market, which is on fire
Battery mineral explorer and developer Aeramentum Resources Limited is all set to get listed on the Australian Securities Exchange (ASX), with the ASX ticker code AEN. The Company’s initial public offering (IPO) is out and is offering 25-35 million shares @ AU$0.2 to raise AU$5-7 million in proceeds. On completion of the offer, Aeramentum’s indicative market capitalisation would be in the range of AU$11.75-13.75 million.
The proceeds from the offer will help the Company to fast-track its exploration endeavours on its flagship Treasure Project, located in the Republic of Cyprus.
The Company has interests in seven permits in Cyprus, some of which are in the application phase. The project is prospective for gold and battery metals like nickel, copper, and cobalt – which are highly sought-after metals catering to the burgeoning battery industry.
Key insights on Aeramentum’s IPO
Aeramentum Resources was incorporated on 3 June 2021 with a vision to acquire, explore and develop the Treasure Project. The Company made its first acquisition in Cyprus through the purchase of PR Ploutonic Resources Ltd.
Aeramentum commenced its exploration activities on the project through Ploutonic and is planning to commence maiden drilling campaign soon after listing.
Aeramentum's primary objective is to focus on mineral exploration opportunities across Cyprus and Europe that have the potential to deliver growth to shareholders. The Company is concentrating its efforts on areas with previous drilling and mining operations to avoid delays with prospecting in greenfield areas.
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