Bellzone Mining Plc, a New Jersey, US-based iron ore miner with iron ore assets in Guinea, West Africa, is seeking to raise approximately $100 million and join the AIM (Alternative Investment Market), the London Stock Exchange's international market for growing companies, with ticker ‘BZM' in the spring of 2010.
According to a company press release, Canaccord Adams Limited is acting as Bellzone's nominated advisor, joint broker and joint bookrunner and Renaissance Capital Limited is acting as joint broker and joint bookrunner.
The company has already defined a maiden inferred iron ore magnetite JORC resource of 2.4 billion mt at its wholly-owned Kalia project in Guinea and believes that there could be more than 13 billion mt of reserves in the area.
The cash from the AIM listing will be used to accelerate the company's drilling program and to achieve a JORC-standard resource. It will also help to complete a bankable feasibility study.