MOD eyes LSE listing after Metal Tiger deal

2nd August 2018 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

MOD eyes LSE listing after Metal Tiger deal

PERTH (miningweekly.com) – ASX-listed MOD Resources has announced plans to seek a dual listing on the London Stock Exchange, following its deal with joint venture partner Metal Tiger to consolidate ownership of the T3 project, in Botswana.

MOD said on Thursday that the LSE listing will likely take place in the fourth quarter of 2018.

“The decision to seek a listing on the LSE represents an important strategic milestone for MOD. The LSE has a long history of successful listings of companies with African mining assets and we expect the listing to raise the profile of MOD and open up access to a wider pool of investors,” said MOD MD Julian Hanna.

“We look forward to building support for MOD among the UK and European investment community as we continue to grow the company.”

MOD said on Thursday that the LSE listing was an important part of the company’s strategy ahead to raise the construction finance for the T3 copper project, and will position the company for the next stage of its development by raising its international profile to facilitate the future participation of a broad spectrum of UK and European investors.

MOD will retain its ASX listing as the primary listing, and is not planning to raise equity capital at the time of the LSE listing.