Pure Gold aims for London listing this quarter
TSX-V-listed Pure Gold, which owns a gold project in Ontario, on Monday announced that it would seek a dual listing of its shares on the LSE to raise its international profile.
The listing is expected in the second quarter of 2019, and the company is not intending to raise capital in conjunction with the admission of its shares.
Commenting on the announcement, president and CEO Darin Labrenz said that the dual listing would increase Pure Gold’s international profile, and that it would facilitate “improved access to the UK and international gold-focused institutional investors”.
The gold development company owns the high-grade Madsen gold project, centred around the historical Madsen mine.
Pure Gold recently released a technical report which included the results of a preliminary economic assessment (PEA) on these deposits, representing the first conceptual expansion scenario for the future phased growth of the Madsen gold project.
The PEA demonstrates the potential of these deposits to add C$51-million to the Madsen project after-tax net-present value (NPV) of 5% at an internal rate of return (IRR) of 39%.
The report also contained the results of a feasibility study on the project, which highlighted a 12-year underground mining operation with a comparatively low initial capital cost of C$95-million, and a strong financial performance with an after-tax NPV of C$247-million and an after-tax IRR of 35%, using a gold price of $1 275/oz.
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