Cyprus-focused miner Caerus Mineral Resources set for London float

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Cyprus has historically been a hotspot for copper mining; the island's name is even derived from the mineral.
Cyprus has historically been a hotspot for copper mining, the mineral's name is even derived from the island.

A mining firm targeting gold and copper sites in Cyprus has this morning announced its intention to float on London’s main market.

Caerus Mineral Resources – named after the Greek god of opportunity – has completed a fund-raise by means of placing 21 million new shares of 0.1p each in the capital of the company.

Martyn Churchouse, CEO of Caerus Mineral Resources, was pleased to announce the firm’s intention to float.

“Caerus will provide the market with access to the re-emergence of Cyprus as a key producer of copper and a contributor towards the growing Clean Energy-based Economy,” he said.

“We will use the funds raised to generate near-term mineral resource estimates and progress towards the economic development of our projects.”