18th Jun 2025 11:45
(Alliance News) - Ajax Resources PLC on Wednesday started trading on the Aquis Stock Exchange Growth Market, moving from the London Main Market.
The London-headquartered natural resources investment company on Tuesday had said it raised GBP1.0 million via the issue of 25.0 million new shares at 4 pence each. Ajax had a market capitalisation of around GBP1.4 million before its IPO on Aquis.
Its shares were quoted at 3.25p on Aquis on Wednesday morning, down 19% from that offer price, giving a GBP2.3 million market cap.
Ajax back in May said net proceeds from its equity raise will fund exploration and drilling work at the Eureka project in northern Argentina, and support the acquisition of additional projects, and provide general working capital.
Ajax Chief Executive Officer Ippolito Ingo Cattaneo said Wednesday: "Ajax's admission to the Aquis Stock Exchange as a natural resources investment company, following the completion of the acquisition of the Eureka gold & copper project, marks a significant milestone for the company as we enter an exciting new phase in Ajax's development. We are pleased to have successfully raised GBP1 million, complementing our existing financial resources. It is to be underlined that the board has invested approximately GBP330,000 of this amount, evidencing both our confidence in the transformative potential of the Eureka project and our alignment with shareholders."
By Tom Budszus, Alliance News slot editor
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