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Tuesday, 25 September 2012
Avrupa Minerals secures listing on Frankfurt Exchange
Avrupa Minerals (CVE:AVU)(FRANKFURT:8AM) said last night that it has secured a listing in Europe on the Frankfurt Stock Exchange under the trading symbol "8AM".
Avrupa said it has also engaged the German firm Finanzkommunikation GmbH, to assist with translation and distribution of news releases to German investors and financial institutions.
"Avrupa already has a few shareholders in Germany and Europe and this Frankfurt listing will help them with liquidity and also make it easier for European investors to trade in the common shares of Avrupa," said president and CEO, Paul Kuhn.
"With Avrupa's European focus on mineral exploration, including Portugal, Kosovo and Germany, this seemed like a very good fit."
Earlier this week, Avrupa Minerals (CVE:AVU) agreed to launch a $975,000 non-brokered private placement financing to raise funds for exploration at its mineral projects in Portugal, Kosovo and Germany.
The financing will consist of 6.5 million units at 15 cents each.
The company said funds will also be used to continue to generate new ideas and prospects in its core areas and elsewhere in Europe.
Avrupa is continuing to advance the Alvalade project in the Portuguese Pyrite Belt with its joint venture partner, with a project exploration budget of US$2.5 million for 2012.
The company is also re-starting exploration work at the Covas joint venture in northern Portugal.
With regards to its other properties in Portugal, Kosovo and Germany, the company said the assets will be dropped if significant targets are not found.
In September, the company provided details of progress on it work programs in Portugal, highlighting its recent acquisition of the Arcas gold-tungsten license.
The acquisition brings the total of licenses that the company holds in Portugal to nine, covering 2,608 square kilometres.
Avrupa said the Mining Bureau of Portugal (DGEG) awarded a two-year exploration contract to the company, covering 75.8 square kilometres in northern Portugal’s gold-tungsten belt. The company said the area was previously explored for tungsten deposits, but no past production has been reported.
In 2011, Avrupa collected a total of five select samples of quartz vein material around the project area that averaged 2.15 parts per million (ppm) gold and ranged from 0.405 ppm gold to 3.89 ppm gold.
Avrupa also noted that it is in the process of completing a prospection report covering the parts of the new Alvito license which fall into the Ossa Morena metallogenic zone, lying just north and northeast of the Iberian Pyrite Belt in Portugal.