Strongbow Exploration Inc. has announced its intention to float on the AIM market of the London Stock Exchange.
Local law firm Stephens Scown LLP has advised on the legal requirements of the planned admission to AIM, which is expected to be effective in June.
Sally Norcross Webb, a consultant in the mining and minerals team at Stephens Scown has been advising Strongbow for several years. She said: “This is another significant milestone for Strongbow, bringing it even closer to a production decision for South Crofty.
“South Crofty is a ‘super-giant’ tin asset, which ranks third globally by grade and size of resource. With a strengthening tin price, and a projected world shortage of tin, we need to get this legendary mine into production again for much needed jobs in Cornwall and a huge boost to the regional economy.”
Richard Williams, Strongbow CEO, said: “Strongbow has achieved a great deal since acquiring the South Crofty project in July 2016, and its planned admission to AIM, which is the next step in the company’s strategy, is a very exciting development.
“The company continues to advance South Crofty to a production decision, with a plan to re-commence production in 2021. The project has all necessary permits in place, and, as a former producing mine, offers great potential at a relatively low risk. The global demand for tin, especially in consumer electronics, combined with current tin price forecasts, underpins Strongbow’s strategy.”
In addition to the proposed AIM listing, Stephens Scown has advised on several aspects of the South Crofty tin project, including its acquisition from administration, the royalty deal with its largest shareholder Osisko and numerous corporate and property matters following the issuing of an Environment Agency water discharge permit.