LONDON (Reuters) – Two exploration companies with assets spanning gold in India to zinc in Ireland will list their shares on London’s Alternative Investment Market (AIM) on Thursday, bringing to 11 the number of mining listings this year as commodities prices recover.
Shares in Panthera resources, whose prime asset is a gold project in Rajasthan and Erris Resources, which has gold in Sweden and zinc in Ireland, will start trading at 0800 GMT.
Commodity prices have stabilized after a steep downturn in 2015 and early 2016 and the number of share listings is up dramatically from just two in 2016. Junior miners who are exploring and developing assets, however, say it is still hard to raise capital.
London’s AIM is home to many smaller businesses and helps them secure the funds to grow, but of the mining companies listed so far this year, the majority have fallen below their opening prices.
Panthera’s Managing Director Geoff Stanley told Reuters his company stood apart in its exposure to India, whose hurdles to entry deter many non-Indian companies. “India is difficult, but the prize is worth it,” Stanley said.