REG - Meridian Mining plc - Admission to Trading on the London Stock Exchange

Meridian MiningAnnouncement

01/05/2026 07:01

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RNS Number : 7709C  Meridian Mining plc  01 May 2026

THIS ANNOUNCEMENT IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA,
JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH
PUBLICATION, RELEASE OR DISTRIBUTION, OFFER OR SALE WOULD BE UNLAWFUL.

Neither this announcement, nor anything contained herein, shall form the basis
of, or be relied upon in connection with, any offer or commitment whatsoever
in any jurisdiction. Investors should not subscribe for or purchase any shares
referred to in this announcement except solely on the basis of the information
contained in the prospectus approved by the FCA (together with any
supplementary prospectus, if relevant, the "Prospectus"), including the risk
factors set out therein, published by Meridian Mining plc ("Meridian" or the
"Company") in connection with the offer of ordinary shares in the Company
("Ordinary Shares") and the admission of the issued and to be issued Ordinary
Shares to the Official List of the FCA in the equity shares (commercial
companies) category and to trading on the Main Market for listed securities of
London Stock Exchange plc (the "London Stock Exchange"). A copy of the
Prospectus published by the Company is available for inspection on the
Company's website at https://meridianmining.co/lse-listing
(https://api.newsfilecorp.com/redirect/N3ONwiP1Dm) , subject to certain access
restrictions.

 

Meridian Announces Admission to Trading on the London Stock Exchange

.

LONDON, United Kingdom, 01 May 2026 / RNS / Newsfile / Meridian Mining plc
(LSE: MNO), (TSX: MNO), (Frankfurt/Tradegate: N2E0), (OTCQX: MRRDF) announces
that, further to its announcement on 27 April 2026, its entire issued ordinary
share capital consisting of 485,513,514 Ordinary Shares, will be admitted to
the equity shares (commercial companies) category of the Official List of the
FCA and to trading on the Main Market for listed securities of the London
Stock Exchange (together, "Admission") today at 8:00 a.m. The Ordinary Shares
will trade on both the London Stock Exchange and the Toronto Stock Exchange
under the ticker symbol "MNO".

Following Admission, the share capital of the Company will consist of
485,513,514 Ordinary Shares, each with one vote. The Company does not hold any
Ordinary Shares in treasury. Therefore, the total voting rights figure of
485,513,514 may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.

The Company expects its free float and liquidity would make it eligible for
inclusion in the FTSE UK Index Series, although inclusion remains subject to
review by FTSE Russell. In particular, it is targeting FTSE All-Share
inclusion at the next rebalancing and FTSE 250 inclusion within 12 months.
FTSE index inclusion will trigger mandatory buying from passive capital.

Meridian is a resource development and exploration company focused on
gold-copper projects in Brazil and is headquartered in London, UK. The primary
focus of the Company is the development of the advanced stage Cabaçal
gold-copper project ("Cabaçal") located in the State of Mato Grosso, Brazil.
Within the wider Cabaçal Belt, the Company is also developing a hub and spoke
strategy. The next stage of this hub and spoke strategy is resource definition
at the Company's high-grade Santa Helena Central Gold-Copper-Silver &
Zinc-Lead project(1), which is expected to be followed by regional scale
exploration across the Cabaçal Belt, exploration at the Aguapei gold prospect
and exploration in the Jauru & Araputanga Greenstone belts.

Meridian has completed a substantial exploration and development programme at
the Cabaçal Project since 2021 1 , culminating in the reporting of the
Pre-feasibility Study in March 2025 2  (the "PFS"), outlining a robust, high
margin project for low upfront capital expenditure for the Cabaçal Project.

Meridian is well positioned on the ESCC segment of the LSE, with the following
attributes:

·    Attractive project economics: The PFS defines Cabaçal as a
high-margin, low-complexity project. It targets 141koz AuEq annually over a
10-year mine life with a 61.2% post-tax IRR and USD984M NPV₅, from a
pre-production capital cost at USD248M (assuming a metals price scenario of
USD 2,119 per ounce of gold, USD 4.16 per pound of copper, and USD 26.89 per
ounce of silver), reflecting an attractive, capital-efficient development
profile.(( 3 ))

·   Simple, executable development: Shallow mineralisation; straightforward
metallurgy; and proximity to infrastructure allow for low-cost processing via
standard crushing-grinding-gravity-flotation. Construction is estimated at two
years, with a rapid 17-month capital payback. The project's NPV/Capex ratio of
c.4.0x compares favourably to peers, highlighting its capital efficiency and
technical simplicity.

·    Advanced Permitting: The Cabaçal project has been granted its
Preliminary License 4  and is expected to submit its application for the
Installation License in Q2 2026.

·   Tier-1 infrastructure & location: Located in mining-friendly
Brazil, the project leverages existing roads, hydroelectric power, and water.
Proximity to infrastructure minimizes upfront Capex. Access to Brazil's mature
mining ecosystem ensures competitive pricing for equipment and skilled labor,
supporting a robust, low-cost operating structure and fast-tracked development

·   Significant exploration upside: Meridian controls 1,073km(2) across
three mineralized belts. The 50km Cabaçal Belt displays VMS clustering
potential. A hub and spoke strategy is planned, with aggressive exploration at
Santa Helena and other regional targets 5  running in parallel with project
development to drive continuous resource growth.

·    Premium metallurgical profile: Ore from the Cabaçal project is
highly amenable to coarse flotation, and is projected to yield 92.3% copper
and 87.1% gold recoveries, with the resulting clean, high-grade concentrate
having low impurities. This high-quality product enhances financing
optionality, via potential offtake-linked funding from major global trading
houses.

·   Proven management team: Management and the Board present the balance of
international and Brazilian experience needed to advance Cabaçal including
mine finance, mine construction, permitting, and ESG. The Brazilian project
team is well-positioned to prepare delivery of Cabaçal, focused on the
development schedule and budget while maintaining low-cost, responsible
operations.

·    Fully funded to construction: Following the April 2026 equity raise,
Meridian has USD104.0m (£77.4m / CAD143.1m) in cash. This fully funds the
Company through the Definitive Feasibility Study ("the DFS") 6  (#_ftn6) ,
permitting, and Final Investment Decision in late 2026 / early 2027.
Subsequent construction funding is expected via a mix of equity and project
debt facilities

The Company's vision is to create sustainable value for its investors and
stakeholders by developing and exploring for high quality mineral resource
assets. The Company is committed to being a responsible steward of the
environment and building collaborative partnerships with communities,
governments, and all other stakeholders for mutual success.

The next step on this strategy is to complete the DFS and subsequently the
construction of the Cabaçal Project. This will be the Company's first and
core production hub of the wider Cabaçal VMS Belt. The Santa Helena Central
project is next in line for further drilling, development studies, and
near-mine exploration to test expansion potential. Regional geophysical and
geochemical surveys continue across the wider 50 km-long Cabaçal Greenstone
Belt, generating additional targets, and are planned to extend into the
neighbouring Araputanga and Jauru Greenstone Belts

Meridian also announces that Stifel Nicolaus Europe Limited ("Stifel"), Joh.
Berenberg, Gossler & Co. KG ("Berenberg") and Peel Hunt LLP ("Peel Hunt")
have been appointed as the Company's joint corporate brokers with immediate
effect.

On behalf of the Board of Directors of Meridian Mining plc

Mr. Gilbert Clark - CEO and Director

Meridian Mining plc

8th Floor, 4 More London Riverside

London SE1 2AU

United Kingdom

Email: info@meridianmining.co (mailto:info@meridianmining.co)

Ph: +44 (0) 203 930 3145 (GMT)

 

Media Enquiries:

Gareth Tredway / Saskia Sizen

Tel: +44 (0) 207 920 3150

Email: meridianmining@tavistock.co.uk (mailto:meridianmining@tavistock.co.uk)

Stay up to date by subscribing for news alerts here:
https://meridianmining.co/contact/ (https://meridianmining.co/contact/)

Follow Meridian on X: https://X.com/MeridianMining
(https://X.com/MeridianMining)

Further information can be found at: www.meridianmining.co
(http://www.meridianmining.co)

 

 Joint Corporate Brokers:

 Stifel Nicolaus Europe Limited      Tel: +44 (0) 20 7710 7600
 Ashton Clanfield / Varun Talwar

 Peel Hunt                           Tel: +44 20 7418 8900
 Ross Allister / Georgia Langoulant

 Berenberg                           Tel: +44 20 3207 7800
 Jennifer Lee / Ivan Briechle Sanz

SCIENTIFIC AND TECHINCAL INFORMATION

Scientific and technical information in this announcement is derived from the
PFS.  The PFS, entitled "Cabaçal Gold-Copper Project NI 43-101 Technical
Report and Pre-feasibility Study" is dated March 31, 2025 was prepared for the
Company by Tommaso Roberto Raponi (P. Eng), Principal Metallurgist with
Ausenco Engineering Canada ULC; Scott Elfen (P. E.), Global Lead Geotechnical
and Civil Services with Ausenco Engineering Canada ULC; John Anthony
McCartney, C.Geol., Ausenco Chile Ltda.; Porfirio Cabaleiro Rodriguez
(Engineer Geologist FAIG), of GE21 Consultoria Mineral; Leonardo Soares (Bsc
Geo, MAIG), Senior Geological Consultant of GE21 Consultoria Mineral; Norman
Lotter (Mineral Processing Engineer; P.Eng.), of Flowsheets Metallurgical
Consulting Inc.; and, Juliano Felix de Lima (Engineer Geologist MAIG), of GE21
Consultoria Mineral. Readers are encouraged to read the PFS in its entirety.
The PFS may be found under the Company's profile on SEDAR+ at www.sedarplus.ca
and on the Company's website at www.meridianmining.co.

 

 

IMPORTANT LEGAL INFORMATION

This announcement is not for publication or distribution in or into the United
States of America. This announcement is not an offer of securities for sale
into the United States. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States, except pursuant to an
applicable exemption from registration. No public offering of securities is
being made in the United States.

The information contained in this announcement is for background purposes only
and does not purport to be full or complete, nor does this announcement
constitute or form part of any invitation or inducement to engage in
investment activity. No reliance may be placed by any person for any purpose
on the information contained in this announcement or its accuracy, fairness or
completeness.

This announcement is not for release, publication or distribution in whole or
in part, directly or indirectly, in or into or from the United States,
Australia, Japan, the Republic of South Africa or any other jurisdiction where
such distribution would be unlawful. The distribution of this announcement may
be restricted by law in certain jurisdictions and persons into whose
possession any document or other information referred to herein comes should
inform themselves about and observe any such restriction. Any failure to
comply with these restrictions may constitute a violation of the securities
laws of any such jurisdiction. This announcement does not constitute a
prospectus or form part of any offer or invitation to sell or issue, or any
solicitation of any offer to purchase or subscribe for, or otherwise invest
in, Ordinary Shares to any person in any jurisdiction to whom or in which such
offer or solicitation is unlawful, including the United States, Australia,
Canada, Japan or the Republic of South Africa. There will be no public
offering of securities by the Company in the United States, Australia, Canada,
Japan or the Republic of South Africa.

This announcement is only addressed to and directed at (A) if in a member
state of the European Economic Area (the "EEA"), are persons who are
"qualified investors" within the meaning of Article 2(e) of Regulation (EU)
2017/1129 (as amended) ("Qualified Investors"); and (B) if in the United
Kingdom, persons who are: (a) "qualified investors" within the meaning of
paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading
Regulations 2024 who are also (i) persons having professional experience in
matters relating to investments who fall within the definition of "investment
professionals" in Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Order"); (ii) persons who
fall within Article 49(2) of the Order; (iii) other persons to whom it may
otherwise lawfully be communicated; or (iv) members of RetailBook's partner
network of investment platforms, retail brokers and wealth managers, to the
extent that they participate as intermediaries in the Fundraising, for onward
distribution to retail investors resident in the United Kingdom only (all such
persons together being referred to as "Relevant Persons").

This announcement must not be acted or relied on (i) in any member state of
the EEA, by persons who are not Qualified Investors; and (ii) in the United
Kingdom, by persons who are not Relevant Persons. Any investment or investment
activity to which this announcement relates is available only (i) in any
member state of the EEA, to Qualified Investors; and (ii) in the United
Kingdom, to Relevant Persons, and will only be engaged with such persons.

Some statements in this announcement contain forward-looking information or
forward-looking statements for the purposes of applicable securities laws.
These statements address future events and conditions and so involve inherent
risks and uncertainties, as disclosed under the heading "Risk Factors" in
Meridian's most recent Annual Information Form filed on www.sedarplus.ca and
under the heading "Risk Factors" in the Prospectus. Forward-looking statements
and forward-looking information include, but are not limited to: the Company's
expected eligibility for inclusion in the FTSE UK Index Series; the Company's
development plans with respect to Cabaçal and Santa Helena, including the
preparation of the DFS; and the general advantages and vision of the Company.
Forward-looking statements are frequently characterized by words such as
"anticipates," "may," "can," "plans," "believes," "estimates," "expects,"
"projects," "targets," "intends," "likely," "will," "should," "to be",
"potential" and other similar words, or statements that certain events or
conditions "may", "should" or "will" occur.

Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made and are based on a number of
assumptions and subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking statements. Many of these assumptions
are based on factors and events that are not within the control of the Company
and there is no assurance they will prove to be correct. Factors that could
cause actual results to vary materially from results anticipated by such
forward-looking statements include the Company's ability to continue to
receive financing on acceptable terms when needed; stability in commodity
prices affecting the Company; and the Company receiving all requisite
regulatory approvals for the continued development of the Company's assets.
The Company cautions that the foregoing list of important factors is not
exhaustive. Investors and others who base themselves on forward-looking
statements should carefully consider the above factors as well as the
uncertainties they represent and the risk they entail. While these factors and
assumptions are considered reasonable by Meridian, in light of management's
experience and perception of current conditions and expected developments,
Meridian can give no assurance that such expectations will prove to be
correct.

Any forward-looking statement speaks only as of the date on which it is made
and, except as may be required by applicable securities laws, each of
Meridian, the Banks and all other persons disclaims any intent or obligation
to update, supplement, amend or revise any forward-looking statement, whether
as a result of new information, future events, or results or otherwise. The
reader is cautioned not to place undue reliance on forward-looking statements.
The forward-looking information contained in this announcement is expressly
qualified by this cautionary statement.

Any subscription for Ordinary Shares in the Fundraising should be made solely
on the basis of information contained in the Prospectus which has been
published by the Company in connection with the Fundraising. Before
subscribing for any Ordinary Shares, persons viewing this announcement should
read the Prospectus and ensure that they fully understand and accept the
potential risks associated with a decision to invest in the Ordinary Shares.
No reliance may be placed for any purpose on the information contained in this
announcement or its accuracy or completeness. This announcement does not
constitute, or form part of, any offer or invitation to sell or issue, or any
solicitation of any offer to acquire, whether by subscription or purchase, any
Ordinary Shares or any other securities, nor shall it (or any part of it), or
the fact of its distribution, form the basis of, or be relied on in connection
with, or act as any inducement to enter into, any contract or commitment
whatsoever.

Potential investors should not base their investment decisions on this
announcement or any part of it. Acquiring securities to which this
announcement relates may expose an investor to significant risk of losing some
or all of the amount invested. Following Admission, the value of the Ordinary
Shares could decrease as well as increase. Neither this announcement, nor the
Prospectus constitute a recommendation concerning the Fundraising or with
respect to any investment in Ordinary Shares. Potential investors should
consult a suitably qualified and experienced professional adviser as to the
suitability of an investment in Ordinary Shares for the person concerned.

Nothing contained in this announcement constitutes or should be construed as
being (i) investment, financial, tax, accounting or legal advice; (ii) a
representation that any investment or investment strategy is suitable or
appropriate to your particular circumstances; or (iii) a personal
recommendation. No statement contained in this announcement is intended to be,
and nor shall any such statement be construed as, a profit forecast.

For the avoidance of doubt, the contents of the Company's website are not
incorporated into, and do not form part of, this announcement.

Each of Stifel Nicolaus Europe Limited and Peel Hunt LLP is authorised and
regulated in the United Kingdom by the FCA. Joh. Berenberg, Gossler & Co.
KG, London Branch is authorised and regulated in Germany by the German Federal
Financial Supervisory Authority and subject to limited regulation in the
United Kingdom by the FCA. Each of Stifel, Berenberg and Peel Hunt (together,
the "Banks") is acting exclusively for the Company and no one else in
connection with Admission, the Fundraising or any other transaction, matter or
arrangement referred to in the attached document. None of the Banks will
regard any other person (whether or not a recipient of this electronic
transmission or the attached document) as its client in relation to Admission,
the Fundraising or any other transaction, matter or arrangement referred to in
the attached and will not be responsible to anyone other than the Company for
providing the protections afforded to their respective clients or for
providing any advice in relation to Admission, the Fundraising or any other
transaction, matter or arrangement referred to in the attached document.

Apart from the responsibilities and liabilities, if any, which may be imposed
on the Banks by the FSMA, or the regulatory regime established thereunder, or
under the regulatory regime of any jurisdiction where exclusion of liability
under the relevant regulatory regime would be illegal, void or unenforceable,
none of the Banks nor any of their respective affiliates and/or any of their
or their affiliates' directors, officers, partners, employees, advisers and/or
agents accepts any responsibility whatsoever for the contents of this
announcement including its accuracy, completeness and verification or for any
other statement made or purported to be made by it, or on its behalf, in
connection with the Company, Admission, the Ordinary Shares or the
Fundraising. No representation or warranty, express or implied, is made by any
of the Banks, their respective affiliates or any selling agent as to the
accuracy, completeness, verification or sufficiency of such information and
nothing contained in this announcement is, or shall be relied upon as, a
promise or representation in this respect, whether or not to the past or
future. Accordingly, each of the Banks, their respective affiliates and their
or their affiliates' directors, officers, partners, employees, advisers and
agents accordingly disclaim, to the fullest extent permissible by law, all and
any responsibility or liability (save for statutory liability), whether
arising in tort, contract or otherwise which they might otherwise be found to
have in respect of this announcement or any such statement or otherwise.

 

 1  Meridian Mining news release of January 20, 2021

 2  Meridian Mining news release of March 10, 2025

(#_ftnref3) (( 3 )) Cabaçal Gold-Copper Project NI 43-101 Technical Report
and Preliminary Economic Assessment (https://meridianmining.co/cabacal-2/) .
See further information below under heading "Scientific and Technical
Information"

 4  Meridian Mining news release of October 30 and November 03, 2025

 5  Meridian Mining news release of February 17, 2026

 6  Meridian Mining news release of May 08, 2025

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