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Strongbow Exploration to float on AIM in June

The mineral exploration company, which is currently listed on the Toronto exchange, previously bought rights to the South Crofty underground tin mine in Cornwall in July 2016
Tin ore
South Crofty is fully permitted to production

Strongbow Exploration Inc (CVE:SBW) has said that it is planning to list on the AIM in June this year.

The mineral exploration company, which is based in Vancouver and is currently listed on the Toronto stock exchange, previously bought rights to the South Crofty underground tin mine in Cornwall in July 2016, an asset it describes as one of the highest grade undeveloped projects in the world.

READ: Strongbow Exploration all set to revive Cornish tin production

The mine, which has produced tin as far back as 1592 and was run for over 400 years, was the last tin mine to close in the UK when it was shut down in 1998.

Strongbow said that dynamics in the tin market had changed since the closure and that it is now potentially feasible to reopen the mine.

South Crofty is fully permitted to production, and while the company did not release any financial details in relation to its IPO, it estimates that it will need around £25mln over the next 18 months to move towards a production decision.

Richard Williams, chief executive of Strongbow, 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.

He added: "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."



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