21 October 2014

Ncondezi makes AIM debut

10/06/2010 Ben Jaglom

Southern Africa-focused coal explorer Ncondezi Coal debuted on AIM this morning with a £146 million tag, having raised £35.6 million at 123p.

Ncondezi, a British Islands-registered concern that holds four exploration and prospecting licenses in the Tete province of Western Mozambique, plans to use the proceeds to conduct further exploration work before beginning to produce coal in the second half of 2014.

The company is headed by CEO Graham Mascall, previously chief executive of M&A, base metals and new business at mining behemoth BHP Billiton and erstwhile CEO of Ukrainian coal miner Lubel. Delighted with the initial market response to the story, Mascall insists ‘the Ncondezi Project presents an exciting opportunity to develop a new coal mine in one of the world's largest underdeveloped coal regions’.

Investors clearly share his excitement, having chased the shares higher to 131.5p today, where they now value the business at almost £157 million.

Tags: AIM, Fundraisings, New Issues

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2014

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1,044 AIM-quoted companies. The full report is available to order for £365 + VAT. Click here for more info

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

The company has been busy across its portfolio of assets

Magnolia keeps on drilling 17/10/2014

US-focused oil play Magnolia Petroleum (AIM:MAGP) has provided an update on its assets.

Tags: Oil and gas

NetPlay issues warning 17/10/2014

Gambling outfit NetPlay (AIM:NPT) has warned that it expects results for the third quarter to be below expectations.

Tags: Gambling, Trading update

Leni update on Trini 10/10/2014

Trinidad-focused Leni Gas & Oil (AIM:LGO) updated investors on its activities in the Goudron Field.

Tags: Oil and gas

Finsbury grabs Fletchers for £56m 10/10/2014

Baker Finsbury Food (AIM:FIF) has purchased competitor Fletchers Group for £56 million.

Tags: Acquisition

Shaft Sinkers trying to avoid further fall 01/10/2014

Mine shaft specialist Shaft Sinkers (AIM:SHFT) has announced it has received an expansion of its current loan facility. 

Tags: South Africa

Fulham Shore grabs Real Greek and moves to AIM 30/09/2014

Restaurant investor Fulham Shore has acquired Greek chain 'The Real Greek'.

Tags: Acquisition, ISDX

More News