ASX-listed gold miner Resolute Mining has published a prospectus in support of its intention to list on the London Stock Exchange this week.
Resolute Mining, which currently owns three gold mines, the Syama gold mine in Mali, the Ravenswood gold mine in Australia and the Bibiani gold mine in Ghana, has a pathway to annual gold production in excess of 500 000 ounces from a global mineral resource base of 16.8 Moz of gold.
The listing takes place as the company ramps up the new Syama Underground mine - the world’s first purpose-built, fully-automated underground gold mine which has the potential to produce 300 000 ozpa of gold over a long mine life.
The dual listing on the LSE is a significant milestone in the ongoing transformation of Resolute Mining and is expected to raise Resolute Mining’s profile in global investment markets and support the company’s plans for growth by providing access to a larger pool of active investors.
The investor base of the LSE has demonstrated a strong appetite for mining stocks and a deep understanding of the African operating environment which makes the main market of the LSE an attractive dual listing venue for the company as it pursues a dynamic growth agenda.
“Resolute presents a compelling investment opportunity for global investors who are seeking exposure to a dynamic, innovative, dividend paying and responsible gold miner that boasts a strong growth pipeline. London is the natural home for large mining companies with an African focus and we believe Resolute will strongly appeal to this international market,” says Resolute Mining MD and CEO John Welborn.
Resolute Mining, says that its existing listing on the Australian Securities Exchange remains unchanged and is unaffected by the dual listing on the LSE with no new equity being raised and no new shares being issued.
Trading in Resolute Mining shares on the main market of the LSE is expected to commence on Thursday 20 June 2019 under the ticker RSG.