20 Jun Resolute Mining begins trading on London Stock Exchange
Resolute Mining has commenced trading on the London Stock Exchange (LSE) as the African-focused gold miner looks to broaden its global investor base and accelerate its growth plans.
The ASX-listed company’s managing director and CEO John Welborn said London was an obvious choice for its secondary listing due to the large volume of Africa-focused investors operating through London.
“We are delighted to deliver as promised on an important strategic goal for 2019. Today marks an exciting milestone for Resolute as our shares commence trading on the Main Market of the London Stock Exchange,” he said.
Resolute is currently ramping up production from the Syama Underground Mine in Mali, which will become the world’s first fully automated underground gold mine when fully commissioned.
The listing provides a boost to the LSE, which has struggled to attract new flotations during the first half of the year as uncertainty surrounding Britain’s departure from the European Union continues to impact decision-making.
Within the mining space, Resolute’s arrival goes some way to filling the gap left by Randgold Resources, which de-listed in London following its merger with Barrick Gold at the start of the year.