ASX-listed Resolute Mining, which operates gold mines in Australia and Africa, expects its shares will start trading on the LSE on June 20.
The dual listing on the LSE is a significant milestone in the ongoing transformation of the gold miner and takes place as the company ramps up its new Syama underground mine, in Mali.
Resolute will retain its existing primary listing on the ASX and will not raise additional equity capital or issue any new shares as part of its LSE listing.
The company has about 758-million ordinary shares in issue, representing a market capitalisation of about A$857-million, based on the closing price on the ASX at June 14 of A$1.13 a share.
MD and CEO John Welborn says Resolute presents a compelling investment opportunity for global investors who are seeking exposure to a “dynamic, innovative, dividend paying and responsible gold miner that boasts a strong growth pipeline”.
Resolute owns the Syama mine; the Ravenswood mine, in Australia; and the Bibiani mine, in Ghana.
The company states that Syama is the world’s first purpose-built fully automated underground gold mine. It has the potential to produce 300 000 oz/y of gold over a long mine life.
The company has a pathway to gold production in excess of 500 000 oz/y from a global mineral resource base of 16.8-million ounces of gold.