Constance Iron Limited was recently featured in The Sunday Times discussing the Company's plans to list on the London stock exchange in an effort to raise £100 million for two new mining projects in Australia.
Getty Images: The Company believes the iron ore market will soon receive a boost from China reopening after the strict Covid restrictions.
Led by David McKenzie, the Company is aiming for a £300 million market value. It will use the cash to start mining at its Western Australia deposit this year, hoping to use the revenue from that site to develop its second mine in Queensland.
Constance Iron currently holds a license to take 65% of the profits from the first mine, which is owned by Australian-listed Tulla Resources, and has 100% ownership of the second deposit.
The board of Constance Iron includes Lord Wellesley, a descendant of the Duke of Wellington. The Company is owned by a combination of management and private Australian investors, who will continue to retain their holdings. Constance expects to have a free float of 50% of its shares.
"China has just opened up . . . and I think the iron ore market will open up on the back of that. Markets look quite good now, and they look very stable. There doesn’t seem to be any of the political jitters that were there."
David McKenzie, CEO, Constance Iron Limited
McKenzie said the company, which is using broker Optiva on the float, had seen strong appetite from London investors.
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Constance Iron Limited
Constance Iron Limited is an Australian-based iron ore company focused on the development and production of iron ore assets.
The company operates across multiple jurisdictions with a primary interest in near-term and operating mines. Constance Iron has an experienced Board and Management team that have assembled a group of high-quality projects with potential to position Constance Iron as a high-tonnage supplier of premium iron ore for global markets.
