With the current news flow, it is quite hard to pin down Chief Executive Officer Jason Brewer, MARU is on a journey with liquidity never an issue on the AQUS market. If you blink you will miss the progress this company has made over 2023 with Q4 looking quite tasty as well.
Last Friday the company provided an update on the sale of high-grade lithium ore from the Blesberg Lithium and Tantalum Mine in South Africa. The initial sale of 27.5 tonnes of high-grade 6% to 6.5% Li2O grade material will now be transported to Cape Town and scheduled for shipment to Huangpu in China.
Jason Brewer, Marula Mining PLC CEO said: It is very pleasing to see the progress that has been made on the resource drilling and mining works program at the Blesberg Lithium and Tantalum Mine over the past month. PDS Drilling are moving ahead at pace and are now almost 75% through the initial 20-hole diamond drilling program. With the core shed now completed on site, the actual core logging, cutting and sampling of the diamond drill core can now start and with spodumene mineralisation having been observed in some of the drill cores, I am looking forward to the commencement of the assay work and first assay results.
In addition to this ongoing drilling work, we also have the geophysics and multi-spectral satellite imaging work starting across the Blesberg license area and over an additional 1,200km2 license area that we are looking to acquire and expand our footprint in the region. This airborne geophysics and multispectral satellite imaging work should show target areas as broad or bigger than the current area of mining and processing activities.
Marula Mining Plc – Update on AIM Listing
Update the market and shareholders on its intention to seek a listing of Marula’s ordinary shares on the London Stock Exchange’s AIM market and proposed dual listings on Kenya’s Nairobi Securities Exchange and South Africa’s Johannesburg Stock Exchange.
- Work continues by the Company’s independent legal and technical consultants, ENS Africa and MSA Group in finalising the Legal Due Diligence and Competent Person Report on the Company’s projects required as part of the Listing process
- The Reporting Accountants’ workstream is also being progressed
- Despite delays in the proposed Listing, the Company is committed to obtaining a primary listing of its securities on a market that provides its shareholders and potential new investors with heightened visibility, increased liquidity and enhanced access to capital to support its growth strategy
- As a result of the increased market capitalisation of the Company over 2023 and the investment and co-development partnership and conditional Subscription Agreement with Q Global Commodities, the Company is also now considering a listing of its securities on the Standard List of the London Stock Exchange (“Standard Listing”)
- After consultation with its legal and financial advisers, the Company is reviewing the merits of the Standard Listing, which is considered to be achievable in the same time frame as the AIM Listing and would not require the Company to incur any material additional costs
- Advisers have already been engaged in South Africa and in Kenya by the Company for these proposed dual listings, which the Board believes will be well supported by investors and key stakeholders in Southern and East Africa
Jason Brewer, Marula Mining PLC CEO said:
“I have a strong conviction that the primary listing of Marula needs to support the direction and growth strategy that the management and Board of the Company are looking to implement in the coming years.
“The primary listing of the Company’s securities in London needs to provide us and our shareholders with heightened visibility, increased liquidity and enhanced access to a broader array of potential investors and I look forward to delivering on that and on our proposed dual listings on the Nairobi Securities Exchange and Johannesburg Stock Exchange in due course.”
About Marula Mining
Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine, Bagamoyo Graphite Project and Nyorinyori Graphite Project in Tanzania. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.
Marula’s strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The Board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy.
Marula’s shares are traded on the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, Kenya’s Nairobi Securities Exchange and South Africa’s Johannesburg Stock Exchange.
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