---
title: "Ajax Targets €2.5m Raise at Premium Ahead of Euronext Growth Oslo Listing"
publisher: "Share Talk"
author: "sharetalk"
published: "2026-10-12T07:33:19+00:00"
modified: "2026-10-12T07:33:19+00:00"
date: 2026-10-12
canonical: "https://www.share-talk.com/ajax-targets-e2-5m-raise-at-premium-ahead-of-euronext-growth-oslo-listing/"
category: "Mining"
categories: ["Mining"]
tags: ["Ajax", "Ajax Resources Plc", "Alagoas State", "Argentina", "BRAZIL", "COPPER", "Eureka", "Euronext Growth", "Gold", "Ippolito Ingo Cattaneo", "Jujuy", "M.Sc.", "Mr. Elton L.S. Pereira", "Oslo", "Pereira Velho Exploração S.A.", "Pereira Velho Gold Project"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/10/9e3e659d-5062-4341-9fef-6a20ff6a6468.png?fit=1727%2C910&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# Ajax Targets €2.5m Raise at Premium Ahead of Euronext Growth Oslo Listing

**Published:** October 12, 2026
**Author:** sharetalk
**Categories:** Mining
**Tags:** Ajax, Ajax Resources Plc, Alagoas State, Argentina, BRAZIL, COPPER, Eureka, Euronext Growth, Gold, Ippolito Ingo Cattaneo, Jujuy, M.Sc., Mr. Elton L.S. Pereira, Oslo, Pereira Velho Exploração S.A., Pereira Velho Gold Project
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/10/9e3e659d-5062-4341-9fef-6a20ff6a6468.png?fit=1727%2C910&quality=80&ssl=1)

---

[Ajax Resources Plc (AQSE: AJAX)](https://www.investegate.co.uk/announcement/rns/ajax-resources--ajax/update-on-proposed-euronext-growth-oslo-admission-/9816826) has advanced plans for admission to **Euronext Growth Oslo**, completing independent Norwegian legal and financial due diligence ahead of a proposed minimum **€2.5 million equity financing**.

The proposed admission remains subject to **final approval from Euronext Growth Oslo and completion of the fundraising**.

Under the Oslo admission requirements, Ajax must raise at least €2.5 million and issue the new shares at no less than **NOK 1.00 each**.

At current exchange rates, NOK 1.00 is equivalent to roughly **8p per share**, around **25.5% above Ajax’s 6.375p closing mid-market price on Aquis on 9 October**.

However, the company stressed that the 8p figure is only an **indicative sterling equivalent of the Norwegian minimum price**, rather than confirmation of the eventual placing price.

For comparison, Ajax completed a **£1 million equity subscription at 8p per share in January 2026**.

The final size, price and terms of the financing will depend on market conditions and investor demand.

Ajax expects the fundraising to broaden its shareholder base across **Nordic and European institutional, natural-resources and sophisticated investors**.

Euronext Growth Oslo also requires at least **30 qualifying shareholders**, each holding shares worth a minimum NOK 5,000, or roughly £400. Ajax expects the new financing to satisfy that free-float requirement.

Proceeds are intended to fund further exploration and development across the company’s international portfolio.

That includes additional drilling at the **Macacha copper-silver project in Argentina** beyond its already funded initial 5,000-metre programme, and potential follow-up drilling at the **Pereira Velho gold project in Brazil** after the fully funded initial 3,000 metres.

Funding could also support work at the **Paguanta silver-copper-lead-zinc project in Chile**, subject to completion of its proposed acquisition.

If Ajax exercises its option over the **Nueva Celti copper project in Spain**, around **€500,000** is budgeted for a 3,000-metre drilling programme intended to support a maiden JORC-compliant Mineral Resource.

Capital may also be used for potential acquisitions and for costs associated with the Oslo admission and financing.

Ajax intends to **retain its Aquis Growth Market quotation**, creating a dual-market structure rather than leaving the UK exchange.

For investors, the key attraction is the potential to raise fresh capital at a price above the current Aquis market level while gaining exposure to a Nordic investor base with significant natural-resources expertise.

The principal near-term uncertainties remain **completion of the minimum €2.5 million financing, the final issue price and terms, and formal approval of the Oslo admission**.

The next announcement is expected to provide the financing terms, timetable and proposed admission date.

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