Admission to Trading on the London Stock Exchange
Summary by AI BETAClose X
THIS ANNOUNCEMENT IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION, OFFER OR SALE WOULD BE UNLAWFUL.
Neither this announcement, nor anything contained herein, shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not subscribe for or purchase any shares referred to in this announcement except solely on the basis of the information contained in the prospectus approved by the FCA (together with any supplementary prospectus, if relevant, the "Prospectus"), including the risk factors set out therein, published by Meridian Mining plc ("Meridian" or the "Company") in connection with the offer of ordinary shares in the Company ("Ordinary Shares") and the admission of the issued and to be issued Ordinary Shares to the Official List of the FCA in the equity shares (commercial companies) category and to trading on the Main Market for listed securities of London Stock Exchange plc (the "London Stock Exchange"). A copy of the Prospectus published by the Company is available for inspection on the Company's website at https://meridianmining.co/lse-listing, subject to certain access restrictions.
Meridian Announces Admission to Trading on the London Stock Exchange
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LONDON, United Kingdom, 01 May 2026 / RNS / Newsfile / Meridian Mining plc (LSE: MNO), (TSX: MNO), (Frankfurt/Tradegate: N2E0), (OTCQX: MRRDF) announces that, further to its announcement on 27 April 2026, its entire issued ordinary share capital consisting of 485,513,514 Ordinary Shares, will be admitted to the equity shares (commercial companies) category of the Official List of the FCA and to trading on the Main Market for listed securities of the London Stock Exchange (together, "Admission") today at 8:00 a.m. The Ordinary Shares will trade on both the London Stock Exchange and the Toronto Stock Exchange under the ticker symbol "MNO".
Following Admission, the share capital of the Company will consist of 485,513,514 Ordinary Shares, each with one vote. The Company does not hold any Ordinary Shares in treasury. Therefore, the total voting rights figure of 485,513,514 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
The Company expects its free float and liquidity would make it eligible for inclusion in the FTSE UK Index Series, although inclusion remains subject to review by FTSE Russell. In particular, it is targeting FTSE All-Share inclusion at the next rebalancing and FTSE 250 inclusion within 12 months. FTSE index inclusion will trigger mandatory buying from passive capital.
Meridian is a resource development and exploration company focused on gold-copper projects in Brazil and is headquartered in London, UK. The primary focus of the Company is the development of the advanced stage Cabaçal gold-copper project ("Cabaçal") located in the State of Mato Grosso, Brazil. Within the wider Cabaçal Belt, the Company is also developing a hub and spoke strategy. The next stage of this hub and spoke strategy is resource definition at the Company's high-grade Santa Helena Central Gold-Copper-Silver & Zinc-Lead project1, which is expected to be followed by regional scale exploration across the Cabaçal Belt, exploration at the Aguapei gold prospect and exploration in the Jauru & Araputanga Greenstone belts.
Meridian has completed a substantial exploration and development programme at the Cabaçal Project since 2021[1], culminating in the reporting of the Pre-feasibility Study in March 2025[2] (the "PFS"), outlining a robust, high margin project for low upfront capital expenditure for the Cabaçal Project.
Meridian is well positioned on the ESCC segment of the LSE, with the following attributes:
· Attractive project economics: The PFS defines Cabaçal as a high-margin, low-complexity project. It targets 141koz AuEq annually over a 10-year mine life with a 61.2% post-tax IRR and USD984M NPV₅, from a pre-production capital cost at USD248M (assuming a metals price scenario of USD 2,119 per ounce of gold, USD 4.16 per pound of copper, and USD 26.89 per ounce of silver), reflecting an attractive, capital-efficient development profile.[3]
· Simple, executable development: Shallow mineralisation; straightforward metallurgy; and proximity to infrastructure allow for low-cost processing via standard crushing-grinding-gravity-flotation. Construction is estimated at two years, with a rapid 17-month capital payback. The project's NPV/Capex ratio of c.4.0x compares favourably to peers, highlighting its capital efficiency and technical simplicity.
· Advanced Permitting: The Cabaçal project has been granted its Preliminary License[4] and is expected to submit its application for the Installation License in Q2 2026.
· Tier-1 infrastructure & location: Located in mining-friendly Brazil, the project leverages existing roads, hydroelectric power, and water. Proximity to infrastructure minimizes upfront Capex. Access to Brazil's mature mining ecosystem ensures competitive pricing for equipment and skilled labor, supporting a robust, low-cost operating structure and fast-tracked development
· Significant exploration upside: Meridian controls 1,073km2 across three mineralized belts. The 50km Cabaçal Belt displays VMS clustering potential. A hub and spoke strategy is planned, with aggressive exploration at Santa Helena and other regional targets[5] running in parallel with project development to drive continuous resource growth.
· Premium metallurgical profile: Ore from the Cabaçal project is highly amenable to coarse flotation, and is projected to yield 92.3% copper and 87.1% gold recoveries, with the resulting clean, high-grade concentrate having low impurities. This high-quality product enhances financing optionality, via potential offtake-linked funding from major global trading houses.
· Proven management team: Management and the Board present the balance of international and Brazilian experience needed to advance Cabaçal including mine finance, mine construction, permitting, and ESG. The Brazilian project team is well-positioned to prepare delivery of Cabaçal, focused on the development schedule and budget while maintaining low-cost, responsible operations.
· Fully funded to construction: Following the April 2026 equity raise, Meridian has USD104.0m (£77.4m / CAD143.1m) in cash. This fully funds the Company through the Definitive Feasibility Study ("the DFS")[6], permitting, and Final Investment Decision in late 2026 / early 2027. Subsequent construction funding is expected via a mix of equity and project debt facilities
The Company's vision is to create sustainable value for its investors and stakeholders by developing and exploring for high quality mineral resource assets. The Company is committed to being a responsible steward of the environment and building collaborative partnerships with communities, governments, and all other stakeholders for mutual success.
The next step on this strategy is to complete the DFS and subsequently the construction of the Cabaçal Project. This will be the Company's first and core production hub of the wider Cabaçal VMS Belt. The Santa Helena Central project is next in line for further drilling, development studies, and near-mine exploration to test expansion potential. Regional geophysical and geochemical surveys continue across the wider 50 km-long Cabaçal Greenstone Belt, generating additional targets, and are planned to extend into the neighbouring Araputanga and Jauru Greenstone Belts
Meridian also announces that Stifel Nicolaus Europe Limited ("Stifel"), Joh. Berenberg, Gossler & Co. KG ("Berenberg") and Peel Hunt LLP ("Peel Hunt") have been appointed as the Company's joint corporate brokers with immediate effect.
On behalf of the Board of Directors of Meridian Mining plc
Mr. Gilbert Clark - CEO and Director
Meridian Mining plc
8th Floor, 4 More London Riverside
London SE1 2AU
United Kingdom
Email: info@meridianmining.co
Ph: +44 (0) 203 930 3145 (GMT)
Media Enquiries:
Gareth Tredway / Saskia Sizen
Tel: +44 (0) 207 920 3150
Email: meridianmining@tavistock.co.uk
Stay up to date by subscribing for news alerts here: https://meridianmining.co/contact/
Follow Meridian on X: https://X.com/MeridianMining
Further information can be found at: www.meridianmining.co
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Joint Corporate Brokers: Stifel Nicolaus Europe Limited |
Tel: +44 (0) 20 7710 7600 |
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Ashton Clanfield / Varun Talwar |
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Peel Hunt |
Tel: +44 20 7418 8900 |
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Ross Allister / Georgia Langoulant
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Berenberg |
Tel: +44 20 3207 7800 |
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Jennifer Lee / Ivan Briechle Sanz
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SCIENTIFIC AND TECHINCAL INFORMATION
Scientific and technical information in this announcement is derived from the PFS. The PFS, entitled "Cabaçal Gold-Copper Project NI 43-101 Technical Report and Pre-feasibility Study" is dated March 31, 2025 was prepared for the Company by Tommaso Roberto Raponi (P. Eng), Principal Metallurgist with Ausenco Engineering Canada ULC; Scott Elfen (P. E.), Global Lead Geotechnical and Civil Services with Ausenco Engineering Canada ULC; John Anthony McCartney, C.Geol., Ausenco Chile Ltda.; Porfirio Cabaleiro Rodriguez (Engineer Geologist FAIG), of GE21 Consultoria Mineral; Leonardo Soares (Bsc Geo, MAIG), Senior Geological Consultant of GE21 Consultoria Mineral; Norman Lotter (Mineral Processing Engineer; P.Eng.), of Flowsheets Metallurgical Consulting Inc.; and, Juliano Felix de Lima (Engineer Geologist MAIG), of GE21 Consultoria Mineral. Readers are encouraged to read the PFS in its entirety. The PFS may be found under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.meridianmining.co.
IMPORTANT LEGAL INFORMATION
This announcement is not for publication or distribution in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.
The information contained in this announcement is for background purposes only and does not purport to be full or complete, nor does this announcement constitute or form part of any invitation or inducement to engage in investment activity. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.
This announcement is not for release, publication or distribution in whole or in part, directly or indirectly, in or into or from the United States, Australia, Japan, the Republic of South Africa or any other jurisdiction where such distribution would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement does not constitute a prospectus or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, or otherwise invest in, Ordinary Shares to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful, including the United States, Australia, Canada, Japan or the Republic of South Africa. There will be no public offering of securities by the Company in the United States, Australia, Canada, Japan or the Republic of South Africa.
This announcement is only addressed to and directed at (A) if in a member state of the European Economic Area (the "EEA"), are persons who are "qualified investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (as amended) ("Qualified Investors"); and (B) if in the United Kingdom, persons who are: (a) "qualified investors" within the meaning of paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024 who are also (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"); (ii) persons who fall within Article 49(2) of the Order; (iii) other persons to whom it may otherwise lawfully be communicated; or (iv) members of RetailBook's partner network of investment platforms, retail brokers and wealth managers, to the extent that they participate as intermediaries in the Fundraising, for onward distribution to retail investors resident in the United Kingdom only (all such persons together being referred to as "Relevant Persons").
This announcement must not be acted or relied on (i) in any member state of the EEA, by persons who are not Qualified Investors; and (ii) in the United Kingdom, by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only (i) in any member state of the EEA, to Qualified Investors; and (ii) in the United Kingdom, to Relevant Persons, and will only be engaged with such persons.
Some statements in this announcement contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in Meridian's most recent Annual Information Form filed on www.sedarplus.ca and under the heading "Risk Factors" in the Prospectus. Forward-looking statements and forward-looking information include, but are not limited to: the Company's expected eligibility for inclusion in the FTSE UK Index Series; the Company's development plans with respect to Cabaçal and Santa Helena, including the preparation of the DFS; and the general advantages and vision of the Company. Forward-looking statements are frequently characterized by words such as "anticipates," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be", "potential" and other similar words, or statements that certain events or conditions "may", "should" or "will" occur.
Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include the Company's ability to continue to receive financing on acceptable terms when needed; stability in commodity prices affecting the Company; and the Company receiving all requisite regulatory approvals for the continued development of the Company's assets. The Company cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. While these factors and assumptions are considered reasonable by Meridian, in light of management's experience and perception of current conditions and expected developments, Meridian can give no assurance that such expectations will prove to be correct.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, each of Meridian, the Banks and all other persons disclaims any intent or obligation to update, supplement, amend or revise any forward-looking statement, whether as a result of new information, future events, or results or otherwise. The reader is cautioned not to place undue reliance on forward-looking statements. The forward-looking information contained in this announcement is expressly qualified by this cautionary statement.
Any subscription for Ordinary Shares in the Fundraising should be made solely on the basis of information contained in the Prospectus which has been published by the Company in connection with the Fundraising. Before subscribing for any Ordinary Shares, persons viewing this announcement should read the Prospectus and ensure that they fully understand and accept the potential risks associated with a decision to invest in the Ordinary Shares. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This announcement does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to acquire, whether by subscription or purchase, any Ordinary Shares or any other securities, nor shall it (or any part of it), or the fact of its distribution, form the basis of, or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever.
Potential investors should not base their investment decisions on this announcement or any part of it. Acquiring securities to which this announcement relates may expose an investor to significant risk of losing some or all of the amount invested. Following Admission, the value of the Ordinary Shares could decrease as well as increase. Neither this announcement, nor the Prospectus constitute a recommendation concerning the Fundraising or with respect to any investment in Ordinary Shares. Potential investors should consult a suitably qualified and experienced professional adviser as to the suitability of an investment in Ordinary Shares for the person concerned.
Nothing contained in this announcement constitutes or should be construed as being (i) investment, financial, tax, accounting or legal advice; (ii) a representation that any investment or investment strategy is suitable or appropriate to your particular circumstances; or (iii) a personal recommendation. No statement contained in this announcement is intended to be, and nor shall any such statement be construed as, a profit forecast.
For the avoidance of doubt, the contents of the Company's website are not incorporated into, and do not form part of, this announcement.
Each of Stifel Nicolaus Europe Limited and Peel Hunt LLP is authorised and regulated in the United Kingdom by the FCA. Joh. Berenberg, Gossler & Co. KG, London Branch is authorised and regulated in Germany by the German Federal Financial Supervisory Authority and subject to limited regulation in the United Kingdom by the FCA. Each of Stifel, Berenberg and Peel Hunt (together, the "Banks") is acting exclusively for the Company and no one else in connection with Admission, the Fundraising or any other transaction, matter or arrangement referred to in the attached document. None of the Banks will regard any other person (whether or not a recipient of this electronic transmission or the attached document) as its client in relation to Admission, the Fundraising or any other transaction, matter or arrangement referred to in the attached and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing any advice in relation to Admission, the Fundraising or any other transaction, matter or arrangement referred to in the attached document.
Apart from the responsibilities and liabilities, if any, which may be imposed on the Banks by the FSMA, or the regulatory regime established thereunder, or under the regulatory regime of any jurisdiction where exclusion of liability under the relevant regulatory regime would be illegal, void or unenforceable, none of the Banks nor any of their respective affiliates and/or any of their or their affiliates' directors, officers, partners, employees, advisers and/or agents accepts any responsibility whatsoever for the contents of this announcement including its accuracy, completeness and verification or for any other statement made or purported to be made by it, or on its behalf, in connection with the Company, Admission, the Ordinary Shares or the Fundraising. No representation or warranty, express or implied, is made by any of the Banks, their respective affiliates or any selling agent as to the accuracy, completeness, verification or sufficiency of such information and nothing contained in this announcement is, or shall be relied upon as, a promise or representation in this respect, whether or not to the past or future. Accordingly, each of the Banks, their respective affiliates and their or their affiliates' directors, officers, partners, employees, advisers and agents accordingly disclaim, to the fullest extent permissible by law, all and any responsibility or liability (save for statutory liability), whether arising in tort, contract or otherwise which they might otherwise be found to have in respect of this announcement or any such statement or otherwise.
[1] Meridian Mining news release of January 20, 2021
[2] Meridian Mining news release of March 10, 2025
[3] Cabaçal Gold-Copper Project NI 43-101 Technical Report and Preliminary Economic Assessment. See further information below under heading "Scientific and Technical Information"
[4] Meridian Mining news release of October 30 and November 03, 2025
[5] Meridian Mining news release of February 17, 2026
[6] Meridian Mining news release of May 08, 2025
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