Dealing in the ordinary shares of Fulcrum Metals on the Aim market of the LSE is set to start on Tuesday morning, with a market capitalisation of £8.73-million.

The company last week announced the successful pricing of an initial public offering and conditional placing of 17.14-million shares at 17.5p each, to raise gross proceeds of £3-million.

The admission of Fulcrum to the Aim will conclude LSE-listed Panther Metals’ sale of its Big Bear project, announced in April last year. The Big Bear project constitutes 128 mining claims on the Schreiber-Hemlo greenstone belt, in Canada.

As consideration for the sale of Big Bear, Panther received a £200 000 payment, was granted a 2% net smelter return royalty and is due to be issued with 20% of the entire issued share capital in Fulcrum. Upon admission, Panther’s 20% interest in Fulcrum would be valued at £1.75-million at the placing price.

"I congratulate Ryan [Mee] and his team on delivering an outstanding raise and bringing Fulcrum Metals onto the public market in such a strong position. The Big Bear project has outstanding potential and well deserves the injection of capital that Fulcrum is planning. With the successful listing, the Fulcrum team will now have all the tools at their disposal to deliver value,” commented Panther CEO Darren Hazelwood.

Meanwhile, Mee said that he was encouraged by investor appetite for Fulcrum. “I believe it speaks volumes for the quality of our projects and the expertise of our team.”

Fulcrum’s project portfolio comprises six gold and base metal projects in Ontario totalling 252 km², covering the Schreiber-Hemlo, Wawa, Winston Lake and Dayohessarah greenstone belts, and two uranium and gold projects in the Northern Athabasca basin region of Saskatchewan totalling 136 km².

The projects are pre-discovery with large, diversified land packages that have either substantial historical samples or prospective geology and located nearby mineral-rich deposits or producing mines.

Fulcrum sees the uranium projects as an opportunity to capitalise on the increasing global recognition of and investment in uclear energy as a way of decarbonising baseload power.

The main focus of Fulcrum is to advance, develop and scale the flagship Schreiber-Hemlo project, comprising the Big Bear and Jackfish Lake properties, whereby the group has amassed a significant land position of 113 km². The properties have 38 recorded mineral occurrences, high grade gold in rock samples and shear zones that have real potential for the discovery and development of an economic mineral deposit.