A company planning to mine uranium at two historical deposits in northern Italy is seeking to list on London’s small-cap Aquis exchange as soon as this week, aiming to capitalise on Europe’s renewed interest in nuclear energy and domestic critical mineral security.
Reveille Resources, which will be operated by Ippolito Ingo Cattaneo alongside his father Andrea Cattaneo, is targeting two uranium deposits in Lombardy known as Novazza and Val Vedello, for which licence applications were submitted last year. Evidence of uranium at both locations was first identified as far back as 1912, with formal exploration beginning in the 1950s as part of Italy’s first nuclear energy programme. That exploration was suspended in the 1980s following the Chernobyl disaster, which triggered widespread public concern over nuclear energy across Europe.
The company is now seeking to revive interest in the sites against a backdrop of European energy security concerns and growing government investment in small modular reactor technology. “Against a backdrop of increasing concerns regarding energy security and access to natural gas supplies from Russia and the Middle East, together with the growing recognition of nuclear energy as a source of low-carbon baseload electricity, European governments, including Italy, are demonstrating renewed interest in nuclear energy,” Reveille said, adding that there is increasing strategic focus on securing domestic and Western-aligned sources of critical and strategic minerals including uranium.
The Cattaneo family is set to own approximately one-fifth of the company following its float, with other mining companies they are involved in also holding shares. New Jersey-based Yorkville Advisors Global, which has financed other energy-related companies including London-listed Fermi, is also participating. The company expects to be admitted to Aquis on Thursday.
