Aztec’s new AIM

AZTEC Resources is undertaking a compliance listing on the London Stock Exchange’s Alternative Investment Market with shares scheduled to commence trading before March 31.

After market soundings the company carried out earlier this year, it received strong interest from London brokers and investors. The proposed AIM listing comes after the significant expansion of the London market which increased the number of mining companies on its boards by 40 per cent last year.

This growth was assisted by its fast-track dual listing process.

The number of Australian mining companies listed there is increasing with Portman, Consolidated Minerals and Aquarius Platinum all boasting AIM codes.

On February 17 Aztec announced the start of drilling at the Koolan Iron Project with the aim of demonstrating additional iron ore resources from extensions to the main pit and satellite ore bodies.

Aztec’s current resource from the main pit is 24.9 million tonnes of high grade iron ore (67 per cent iron) with low impurities.

Its chairman Ian Burston said: “The Koolan Iron Ore Project has exposure to the booming Chinese market and considerable interest has already been received from overseas investors”.