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Taseko seeks listing on London main market

23rd October 2019

By: Creamer Media Reporter

     

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North America-focused copper producer and developer Taseko Mines on Wednesday announced that it would pursue a listing on the main market of the LSE, with approval expected before the end of the year.

The company said that the listing should raise its profile in the global investment market and broaden access to copper-focused institutional investors.

Taseko is not planning to raise capital in conjunction with the LSE admission.

"It is with great pleasure that we are announcing our strategic move into the broad London market. The solid base of copper production and cash flow from our Gibraltar mine, combined with near-term production from our Florence copper project, presents an excellent investment opportunity currently unavailable to generalist investors in the UK and Europe,” said Taseko CEO Russell Hallbauer.

The Gibraltar mine is located in British Columbia, Canada, and the Florence project in Arizona, US.

"Given the quality of our North American asset base, and the near-term development of Florence Copper that will transform Taseko into a multi-asset, low cost producer, we feel the timing is right to list on the LSE.

"Although we are not raising funds as part of the LSE listing, we believe this initiative will enhance our profile in international capital markets, widen our investor base and attract further institutional ownership to our shareholder register."

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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