Latin Resources (ASX: LRS) has an exploration target of 2 billion tonnes of mineralised sand at the Guadalupito project in northern Peru, and has now positioned itself to gain further investor traction for this project through an international listing.
Latin has now been admitted to trading on the Stock Exchange Electronic Trading System - quotes and crosses (SETSqx) of the London Stock Exchange, with the UK ticker to be LRS - the same as the ASX listing.
The company has also appointed finnCap as its UK broker.
Importantly - SETSqx will allow the company's issued securities to be traded by the UK investment community, providing a much broader range of UK-based investment funds and institutional investors, while also increasing liquidity in the company's securities.
Chris Gale, managing director of Latin, said: "As the company continues to evolve its project portfolio it is important that we look to increase our profile and promote ourselves to additional resources focused investment groups, be they sophisticated investors, small cap funds or institutions, which is a key driver for our decision to seek trading on SETSqx."
Towards the end of 2011 Latin delivered a maiden JORC Resouce at Guadalupito which included 119 million tonnes at 5.7% total heavy mineral (HM) content.
Snowdens developed a geological model over an initial "proof of concept" area of some 682 hectares. The initial resource is based on only 68 holes out of a 1,500 metres current program.
Put in perspective, the "proof of concept" Inferred Mineral Resource estimate has been carried out over an initial 682 hectares area within the overall concession area of 16,437 hectares.
Latin Resources' Guadalupito concessions cover a 45 kilometre long mineralised shoreline system that extends up to 4 kilometres inland. The announced resource estimate covers only 6 kilometres of that strike length to a width of only just over 1 kilometre.
Magnetite with a low Titanium content has been confirmed as the dominant magnetic mineral at Guadalupito. Gold grades of potential economic significance have been encountered.