Aflease considers Canadian listing
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Resources Editor
GOLD junior Afrikander Lease (Aflease) is considering a secondary listing on the Toronto Stock Exchange, CE Neal Froneman said yesterday.
This followed a global investors road show, which included Canada, where he said investor appetite for smaller mining companies was great.
Aflease, which traditionally has been regarded as a gold stock, is busy repositioning itself as a uranium producer, arguing that it has one of the world`s best uranium resources .
Aflease is listed in Johannesburg with a secondary listing on the Nasdaq. Froneman said it would be difficult to upgrade the Nasdaq listing to one that could be electronically traded.
This might mean that Aflease would look at the transfer of its offshore listing from the Nasdaq to Toronto. However, he said that the primary listing would remain in SA.
Toronto-based South African mining lawyer Darryl Levitt said Toronto was one of the global centres of mining finance, and offered more liquidity than the Nasdaq for mining stocks.
`It has more mining analysts in the mining sector than other regions. This means a company has a greater chance for exposure and financing by being listed on an exchange in Toronto.`
Froneman said: `A section of our shareholder base wants a purely gold company. The majority want a focused uranium company, and we are considering a strategy that would lead to that end.`
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