Copper Bay to list on Aim

Chilean-focused miner Copper Bay is seeking to raise £2.5m this week in a junior stock market listing that will see the firm valued at around £8.5m. The proceeds will be used to advance Copper Bay’s flagship Chanaral Bay copper project in Chile, north of the capital Santiago. Copper Bay managing director Colin Hunter said that the company was confident it could reach production status and start to generate revenues in 2016. It is estimated that over the nine years of the mine’s life, it can produce 232,000 tonnes or copper and 87,000 ounces of gold. Cairn Financial Advisers is advising on the listing, and Northland Capital Partners is acting as the broker.