London – LAWFUEL – Press Release Service – DLA Piper Rudnick Gray Cary UK LLP (“DLA Piper”) has advised Ambrian Partners Limited in its capacity as nominated adviser and broker on the flotation of Monto Minerals Limited (“Monto”) which listed on AIM today.
Monto, also listed on the Australian Stock Exchange, raised £16.7 million at a placing price of 12p. The Company is an emerging producer of industrial minerals with substantial in-ground resources in Queensland, Australia. The Goondicum Industrial Minerals Project is a multi-product mine development focused on the production of ilmenite, feldspar, apatite and titano-magnetite.
The proceeds of the placing will be used to fund the construction and commissioning of commercial production facilities to enable full-scale production within 12 months. Ilmenite is used as a white pigment in the paints and plastics industry; feldspar is used in glass manufacture and surface coatings; apatite is a source of phosphate, used in the production of phosphatic fertilisers and animal stockfeed; and titano-magnetite is used by the coal industry for coal washing.
The DLA Piper team was led by Corporate partner Mark Taylor. He was assisted by associate Yvonne Goldingham and solicitor James O’Malley.
Mark Taylor commented: “We are delighted to have worked with Ambrian on this transaction; AIM is now firmly entrenched as the equity capital market of choice for growth companies and we look forward to capitalising on the growing number of foreign companies looking to list in London.”
DLA Piper is one of the most instructed law firms acting on AIM listings for issuers and nominated advisers. The corporate team has advised on 45 IPOs since January 2004 and acts on an ongoing basis for more than 70 AIM companies.
DLA Piper was recently named ‘AIM Lawyer of the Year 2006’ at this year’s Growth Company Investor annual awards ceremony.
