JOHANNESBURG (miningweekly.com) – TSX- and Aim-listed Caledonia Mining will list on the NYSE on July 27.
The listing on the NYSE is intended to provide the company with greater access to US institutional and retail investors, which, in turn, is hoped will result in better overall trading liquidity, a lower cost of capital and other benefits for Caledonia and its shareholders.
“This further step in the development of Caledonia's corporate status has taken place against the backdrop of continued progress on our major operational development projects, principally the sinking of the central shaft at the Blanket Mine in Zimbabwe,” CEO Steve Curtis said in a statement.
The central shaft, which is being funded from Blanket's internal resources, is expected to fundamentally change the nature of Blanket's operations by improving operating efficiencies and providing access to deeper levels for exploration, development and production.
Completion of the central shaft remains on schedule for the fourth quarter of 2018.