Unicorn Mineral Resources (LSE: UMR), is pleased to announce that its entire issued ordinary share capital consisting of 27,755,664 ordinary shares of €0.01 each in the capital of the Company (“Ordinary Shares”)
Will today be admitted to the Official List (by way of Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange’s Main Market for listed securities (together, the “Admission”). Dealing will commence at 8.00 a.m. today 27 October 2022, under the ticker “UMR”.
Highlights
· Successful £930,000 fundraising at 10p per share
· Following Admission, the placing proceeds will be used to further explore Unicorn’s flagship project at Kilmallock which is situated in the “Limerick Basin” in Ireland. Exploration here will include ground geophysics and an initial 6-hole drilling programme. Exploration will also be carried out at Unicorn’s Lisheen Properties which are adjacent to the recently operated but now closed Galmoy and Lisheen mines.
· Previous drilling on the Kilmallock Property has identified significant intercepts of high-grade zinc, lead, and silver mineralisation including one 3.8mtr intercept with 14.66% Zinc 4.8% Lead and 133.79 g/t Silver at a depth of 325mtr.
· Zinc prices have risen by 25% in US Dollar terms since 2020 at current prices and hit a 15-year high this year, amid closures of zinc smelters in Europe due to elevated energy prices.
· Zinc consumption will continue to be driven by rising demand for galvanized steel, which accounts for half of total zinc use at present, as well as the increased use of zinc in batteries going forward for the storage of energy from wind farms and solar farms. Zinc is now regarded as one of the necessary “green” metals for the future.
Richard O’Shea, CEO of Unicorn Mineral Resources Plc, commented:
“The listing of Unicorn on the London Stock exchange is a momentous occasion in the history of the Company. In that regard I would like to thank my fellow Directors for their efforts over recent years to achieve this milestone and the loyal shareholders and investors who have supported Unicorn over this time to make this possible. I am also delighted to welcome all Unicorn’s new shareholders. I believe we have a very prospective portfolio, particularly the Kilmallock property in the Limerick Basin. The property has had some positive results from previous drilling and is located 15km south of the Pallasgreen project owned by Glencore. In addition, drilling by other operators on some adjacent properties over the last two years has produced some good results which is encouraging for the Limerick Basin in general. I look forward to an active exploration programme and some good news for shareholders over the coming years.”
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
Qualified Person
The technical information contained in this announcement has been reviewed, verified, and approved by David Blaney, P.Geo, EurGeol, Member of the Irish Association for Economic Geology and Member of the Irish Mining and Quarrying Society, with experience in all aspects of mineral prospecting.
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For additional information please contact:
Unicorn Mineral Resources Plc
Richard O’Shea, CEO
Tel: +353 87 2560397
Email: ros@umr.ie
John O’Connor, CFO
Tel: +353 86 259 5123
Email: John.OConnor@UnicornMineralResources.com
Website: http://unicornmineralresources.com/
