Ajax Resources is seeking to raise at least €2.5 million through a proposed admission to Euronext Growth Oslo, with the financing intended to support exploration across Argentina, Brazil and Chile, as well as potential drilling at the Nueva Celti copper project in Spain.
The company has completed independent Norwegian legal and financial due diligence ahead of the planned listing. The proposed transaction remains conditional, and Ajax has not announced a completed fundraising.
Proposed Oslo Listing and Financing Terms
Ajax intends to secure the funds through a private placement with a minimum subscription price of NOK 1.00 per share. It plans to retain its existing quotation on Aquis, creating a dual-market structure if the Oslo admission proceeds. The proposed listing would give Ajax access to a broader pool of specialist mining investors, complementing its existing presence in London’s junior-capital markets. Oslo has an established investor base focused on natural resources, energy and smaller project developers.
The outcome will depend on whether the company completes the placement and converts the proceeds into exploration activity and measurable project progress.
Nueva Celti Drilling and Resource Estimate
In Spain, Ajax may undertake approximately 3,000 metres of drilling at the Nueva Celti copper project if it exercises its option over the asset. The programme is estimated to cost €500,000 and would target data needed to support the project’s first JORC-compliant mineral-resource estimate. Nueva Celti remains at an early exploration stage. The proposed drilling would need to establish sufficient geological continuity to underpin a formal resource estimate.
Exploration Funding Across Three South American Countries
Alongside potential work in Spain, the proposed financing would fund exploration activities across Argentina, Brazil and Chile. The planned Oslo placement is therefore intended to support Ajax’s broader exploration portfolio rather than a single project. Completion of the €2.5 million fundraising is the first outstanding step. Any subsequent Nueva Celti drilling and the results required to establish a compliant mineral resource remain dependent on the company’s funding and project decisions.
