PERTH (miningweekly.com) – Junior gold explorer Matador Mining has started share trading on the US Over the Counter (OTC) market under the ticket MZZMF.
The company said on Monday that trading on the OTC imposed no additional compliance or regulatory standards over the existing requirements for the ASX listing.
The OTC trading would enhance Matador’s visibility and access to North American investors, with the listing allowing potential North American investors to both trade and settle during US trading hours and in US dollars, said executive chairperson Ian Murray.
“With our largest ever exploration programme under way, in arguably North America’s most exciting gold jurisdiction, we have been receiving a significant increase from investors based in the region.
“An OTC listing allows for North American investors to more easily buy shares in Matador in their own time zone and currency,” said Murray.
Matador is developing the Cape Ray gold project, in Canada, where a scoping study estimated that it could produce 88 000 oz/y of gold over the first four years of its mine life, with the scoping study also estimating a total life-of-mine silver production of 863 000 oz, or 124 000 oz/y.