Extraordinary general meeting of shareholders of the joint-stock company “ALMAR – Arctic Diamonds”, held on February 1, decided to file an application for the listing of the company’s shares on SPB Exchange, as well as on an additional issue of shares to increase the company’s authorized capital. The placement of 21 805 (15%) ordinary shares of the company with a nominal value of 1 ruble was approved by open subscription in addition to the already existing 123 564 shares of the company. The IPO on the SPB Exchange is planned to take place approximately in the first half of 2022. The IPO will be organized by well-known Russian brokers, that took part in the pre-IPO round last November, including ITI Capital and “Solid” Investment Financial JSC. Legal support is provided by the VTB Registrar. The partner of SPB Exchange, the investment company Polarctic Capital, became a consultant on the preparation of documents.
All funds raised will be used to complete exploration, confirm reserves and design the development of two alluvial diamond deposits for open pit mining. According to the plan, exploration will be completed in 2022, and reserves are expected to be confirmed in 2023. In 2024-2030 the company is planning to start exploration of deposits for underground mining. The start of diamond mining and sales is scheduled for 2024.
Exploration of diamond deposits is carried out in accordance with ESG principles and is aimed at the development of Yakutia and the entire Russian Far East.
“The implementation of the ALMAR investment project will give impetus to the development of Yakutia and the entire Far East as a whole. The development of the Arctic territories will make it possible to attract additional tax revenues to the budgets of all levels in the amount of more than 1.5 billion million rubles in a ten-year perspective. After the company reaches its design capacity, we will provide the republic with 300 new jobs, of which 200 will be in the Oleneksky ulus. We understand how important it is to follow ESG principles in our work, and we strive to become a model company for other developing companies in the mining industry, opening up a new financing technology for them in public financial markets, and showing by our own example the importance of sustainable development. To this end, ALMAR JSC was registered in the area of its operations – the Arctic zone of the Republic of Sakha (Yakutia) and adheres to modern principles of corporate governance and information disclosure. We hope that over time ALMAR will actively participate in the development of the Oleneksky and Bulunsky uluses, where the deposits being developed by the company are located, just as ALROSA has been doing in other regions of Yakutia for many years. We are focused on long-term sustainable development, we create conditions for the work of creative and responsible people. To protect our fragile Arctic nature, we adhere to high standards of environmental management at all stages of our operations.”, – noted Lyudmila Nikolaeva, Chairman of the Board of Directors of ALMAR JSC.