constance iron ltd said monday that it is considering floating on the london stock exchanges main market and is targeting to raise around 60 million pounds 744 million via a share placing the companywhose activities involve the development and production of magnetite iron ore projects in australiasaid it will use the money raised to fund the exploration and development to production of its norseman iron ore project as well as the exploration of the constance range iron ore project further details of the share placing will be disclosed in constance irons prospectus if the company proceeds with the ipo it said our proximity to existing infrastructure and plan to use dry magnetic separation means that we have an initial lowcapex model with a short development timeline we believe that these advantages when combined with a product for which we expect there to be high global demand will enable us to generate returns for shareholders following the ipo chief executive david mckenzie said