Explorer Pursuit pursues London main market listing
Australia-headquartered explorer Pursuit Minerals has started a process to seek a dual listing of the company’s shares on the LSE, a market which MD Jeremy Read says has considerable investor interest for its vanadium projects.
Pursuit, which will retain its ASX listing, is focused on advancing its Airijoki and Koitelainen vanadium projects in Sweden and Finland, respectively.
Read, who is leading an investor roadshow in London this week, said that the Airijoki and Koitelainen scoping studies had highlighted the potential for financially robust projects by initially producing high-grade vanadium magnetite concentrates.
The company will move to a definitive feasibility study for Airijoki “as soon as practicable”, with an infill drilling programme planned for September to convert inferred resources to a measured and indicated resource.
“While we are planning for the Airijoki DFS and also a targeted regional exploration programme at the project, we are continuing with discussions with the Finnish government to achieve grant of an exploration licence at Koitelainen later this year,” Read said.
Airijoki hosts an inferred resource of 44.3-million tonnes, containing 5.9-million tonnes of magnetite at 1.7% vanadium pentoxide (V2O5) for 100 800 t of V2O5.
At the Koitelainen Vosa prospect, an inferred resource of 116.4-million tonnes, containing 5.8-million tonnes of magnetite at 2.3% V2O5 for 131 000 t of V2O5 had been defined.
Pursuit aims to complete its LSE listing process by the end of the year.
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