Talisman Metals PLC has secured a London listing, becoming the first newcomer to join AIM in 2026, following the reverse takeover of Morocco-focused explorer Tadeen International by cash shell Ovoca Bio (LSE:OVB).
The enlarged business, now operating under the Talisman Metals name, entered the market with an estimated market value of about £4.9 million. Admission followed the completion of a £1.16 million fundraising, made up of a £350,000 placing and an £805,000 subscription, both priced at 7.7p per share. Shares slipped to 6.95p in early Wednesday trading.
Talisman is concentrating on copper exploration in Morocco, with assets spanning the Tizert and Argana project areas in the Atlas Mountains. The group reported total cash resources of £2.3 million, which it plans to deploy on exploration work, working capital needs and listing-related costs.
Chief executive Timothy McCutcheon, who has led Ovoca since 2009, said the completion of the transaction “marks an important milestone for Talisman”, adding that the company is “well positioned to move forward with a clear strategic focus, to further develop the potential of our exciting project portfolio.”
Through its subsidiary Tadeen, Talisman controls ten exploration permits across the two Moroccan projects, covering a combined area of 129.8 square kilometres. Early-stage work at the Tizert project has already delivered encouraging copper grades, with near-term efforts set to focus on the Fougnar target.
Beaumont Cornish is acting as the company’s nominated adviser on AIM, while CMC Markets is serving as broker.
Leave a Reply