Meridian Mining (TSX:MNO) is seeking to list on the London Stock Exchange (LSE) under the ticker code MNO, amid launching an equity offering to raise £25 million ($47.17 million).
The listing is expected to take place on 1 May 2026.
Under the proposed offering, shares will be issued at £0.92 per share, representing a 5.6% discount to the last closing price per share on the Toronto Stock Exchange on 24 April.
The funds, together with existing cash of £55.1 million, will fund development activities at the Cabaçal Project in Brazil, including deposits for long-lead items, advanced infrastructure, civil works, working capital, and corporate general costs.
Meridian Mining is focused on developing the Cabaçal Project, with a Definitive Feasibility Study due in Q4 2026, with a final investment decision to follow shortly thereafter.
A 2025 Prefeasibility Study delivered ‘attractive’ results with a net present value of US$984 million and an internal rate of return of 61%.
The company is currently conducting an ongoing district-scale exploration program for copper, gold, silver, and zinc.
Meridian Mining is a mineral developer focused primarily on gold and copper in Brazil.
Write to Aaliyah Rogan at Mining.com.au
Images: Meridian Mining
