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Highlights
Greatland Resources to issue ordinary shares under Paterson South joint venture
Share admission to AIM expected by end of July
Share issuance part of agreement announced in prior Australian filings
Greatland Resources Limited (LON:GGP), an exploration and development firm operating in the mining sector and listed on the FTSE AIM UK 50 Index and FTSE AIM 100 Index, has announced it will issue new ordinary shares to Rio Tinto Exploration Pty Limited, a subsidiary of Rio Tinto (LON:RIO). This move forms part of the company’s existing joint venture arrangement for the Paterson South project.
Share Issuance Linked to Farm-in Agreement
The upcoming share allotment relates to an earlier joint venture and farm-in agreement initially announced in the second quarter of the previous year. Full details were most recently disclosed in Greatland’s Australian prospectus dated late May. The issuance serves as an initial consideration under the structured terms of the project collaboration.
AIM Trading Admission Process Underway
Greatland Resources has confirmed that the new ordinary shares are set to be issued during the final week of July. In tandem, the company will submit an application to list the shares on the AIM market of the London Stock Exchange. Admission is anticipated to take place when trading opens on the scheduled day, subject to regulatory confirmation.
Compliance with ASX and LSE Requirements
As part of procedural compliance, the company has filed the required Form 3B documentation with the Australian Securities Exchange. This submission outlines the technical specifics of the share issuance and affirms adherence to listing obligations under Greatland’s dual exchange status.
Strategic Collaboration with Rio Tinto Continues
The Paterson South project remains a strategic exploration initiative for both Greatland and Rio Tinto. The joint venture provides for staged investment and operational collaboration, with both parties fulfilling roles under a formalised structure aimed at resource development in the Paterson region.
Regulatory Disclosure and Timeline
The announcement was released via a regulatory information service and includes content officially considered public under UK Market Abuse Regulations. Greatland Resources is expected to confirm trading commencement on AIM once final approvals are secured. Rio Tinto, which also trades on the FTSE 100, continues its collaboration with Greatland through this joint initiative.
