VANCOUVER (miningweekly.com) – Midtier gold producer Leagold Mining has received conditional approval to list all its equities on the TSX main board – one of the main goals it set out to achieve this year.
"Graduating to the TSX is another important milestone in our corporate development and gives us increased access to a larger pool of institutional investors as we continue building a midtier gold producer focused on Latin America,” CEO Neil Woodyer commented in a statement on Friday.
Final approval of the TSX listing is subject to Leagold meeting certain standard and customary conditions required by the TSX. Leagold advised that it was in the process of satisfying these requirements and would confirm the date on which trading on the TSX will start.
After completing the final listing requirements, Leagold's common shares will be delisted from the TSX-V, and all the company’s stock will trade on the TSX.
Leagold is focused on the Mexico-based Los Filos gold mine and works to enhance and expand the flagship operation.
The next stimulus is expected to come from analysing the exploration results on the nearby Bermejal deposit, while also weighing a trade-off study to confirm whether Bermejal ore can be better treated on the existing heap leach facility, or whether the cost of a more advanced carbon-in leach plant is justified.
Permitting for Bermejal is ongoing.
Los Filos produced 231 000 oz of gold in 2016 at an all-in sustaining cost of $878/oz, making it one of the largest gold mines in Mexico and an ideal platform for growth and regional consolidation.