FireFly Metals (ASX:FFM,OTC Pink:MNXMF) introduced plans to twin checklist on Wednesday (December 11) after receiving conditional approval to commerce on the principle board of the Toronto Inventory Alternate (TSX).
It should use the image FFM, the identical image it makes use of on the Australian Securities Alternate (ASX).
The copper- and gold-focused firm is about to debut on the TSX on December 16.
“(This) is a compliance itemizing solely and won’t be accompanied by a capital elevating,” the corporate stated, including that it had AU$88 million in money as of the top of October and is able to absolutely funding its 2025 progress technique.
FireFly is at the moment centered on rising the useful resource at its flagship Inexperienced Bay copper-gold challenge. It stated in October that it’s working towards the subsequent useful resource replace on the website, and expects it to come back within the first half of 2025.
Inexperienced Bay is positioned within the Baie Verte district of Northeast Newfoundland, Canada, which is among the many high 10 international mining funding jurisdictions, in response to a 2023 Fraser Institute survey.
The challenge’s useful resource at the moment measures 460,000 tonnes at 1.9 p.c copper equal throughout the measured and indicated classes, and 690,000 tonnes at 2 p.c copper equal throughout the inferred class.
“Having established Inexperienced Bay as a high-grade, world-scale copper challenge, we consider the TSX itemizing will assist the corporate capitalise on the sturdy curiosity amongst North American traders,” stated Managing Director Steve Parsons.
Two of FireFly’s board members are already positioned in Toronto, and the corporate believes itemizing in Canada will assist it appeal to native exploration and growth expertise.
In keeping with FireFly, present shareholders will be capable of commerce their shares on the TSX.
“(Shareholders will solely have to) request to reposition their shares from the Australian principal share register to the Canadian department share register and set up an account with an applicable dealer,” the corporate defined.
FireFly’s major itemizing will stay on the ASX.
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Securities Disclosure: I, Gabrielle de la Cruz, maintain no direct funding curiosity in any firm talked about on this article.
