22 May Canada’s Pure Gold Mining makes secondary listing in London
Vancouver-based Pure Gold Mining has begun trading on the Main Market of the London Stock Exchange, as the TSX-listed company looks to attract a broader pool of international capital with a secondary listing.
Pure Gold is advancing the Madsen Red Lake Gold Mine in Ontario, and recently published a feasibility study which outlined an 800 tonnes per day underground mining operation with a 12-year life of mine, and current probable reserves of one million ounces at 9 g/t Au in 3.5 million tonnes.
The firm’s president and CEO, Darin Labrenz said the London listing represents an important and timely strategic milestone as the Pure Gold approaches construction of the Madsen mine and first production next year.
“The Madsen Red Lake Gold Mine presents an attractive investment opportunity through the high grade ore body, low capital cost and short 13-month construction,” he said.
“We look forward to broadening our shareholder register as we approach production and unlock the wider deposits in our licence area within the iconic Red Lake region, the home of Canada’s high grade gold industry.”
Pure Gold’s bid to attract European and UK investors comes as junior Canadian miners are faced with strong opposition from the burgeoning cannabis sector in domestic markets.