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London Mining hires Liberum Capital and GMP Securities to advise on listing

London Mining, the UK-based company which develops mines for the steel industry, said yesterday it had appointed investment bank Liberum Capital as its adviser and joint broker to help its planned listing on Aim.<br /><br />GMP Securities will be the joint broker on the listing, which was first announced in July.<br /><br />London Mining said it had sufficient funding to hit key development milestones with its assets. <br /><br />The group, which is listed on the Oslo Stock Exchange already, plans to list on Aim before the end of the year.<br /><br />It hopes the listing will give it wider exposure to UK investors, and help it benefit from coverage of the mining sector in London. <br /><br />The company, which is due to put out its third quarter figures on 12 November, reported a cash position of $230m (&pound;145m) on 30 September, enough to fund its Sierra Leone Marampa project for production within a year to a year and a half.<br /><br />It also said it would be able to fund its Wadi Sawawin project up to a bankable feasibility study which is due later this year.<br /><br />An upgrade of its Marampa primary ore and China resources to JORC is expected within the next 9 months.<br /><br />London Mining has 100 per cent of the Marampa hematite iron ore mine in Sierra Leone, and 100 per cent of the Isua magnetite iron ore project in Greenland.