Copper developer Halo Minerals (AIM:HALO) has begun trading its shares at £0.001 on the Alternative Investment Market (AIM) of the London Stock Exchange.
This news comes after Halo raised £4 million ($7.72 million) via the issue of 22.22 million shares at £0.018. On admission, the company will have 110.74 million shares in issue with a market capitalisation of £20 million.
CEO Andrew Dennan says admission onto the AIM represents a milestone for the company, as it strengthens its ability to grow as a company by enhancing visibility and providing a platform to pursue its long-term strategy.
“We are well-positioned to support the global transition to sustainable energy through the extraction of critical minerals, delivering both environmental and economic value,” Dennan says.
Halo Minerals is planning to advance its Playa Verde Project in Chile to production using the funds raised on admission. This is expected to take the project to a final investment decision, or to a stage at which alternative project funding options are available.
PlayaVerde has a resource estimate of 53 million tonnes @ 0.24% copper, including ore reserves of 32.2 million tonnes @ 0.25% copper which contain an in-situ fine copper content of 79,359 tonnes.
Halo Minerals also intends to pursue additional growth opportunities in Chile, as well as potentially, other jurisdictions.
In December 2025, the company proposed the name change amid preparations for a return to the London AIM Market following completion of a pre-initial public offering (IPO) capital raise.
Playa Verde also has an net present value of US$154.1 million ($217.63 million) and an internal rate of return of 50.9% post-tax, based on the ore reserves only.
As part of the project’s mine plan, initial mineable resources and reserves total 34.2 million tonnes to produce 60,329 tonnes of refined copper. The mine plan is based on dredging and processing 5 million tonnes per year of tailings, with an overall metallurgical recovery of 72%.
Write to Aaliyah Rogan at Mining.com.au
Images: Halo Minerals
