Ashburton hits Germany

ASHBURTON Minerals has been granted a listing on the Frankfurt stock exchange in Germany.

The listing came about as a result of strong interest and demand for the company’s shares by European investors stemming from its recent acquisition of the Drummond Basin gold assets in Queensland from Place Dome Asian Pacific and the company’s intention to recommence gold mining operations in the first half of 2004 from remaining oxide resources at the Wirralie mine.

The move to list Ashburton’s securities in Frankfurt was initiated by European shareholders and not the company.

The listing allows German-based shareholders to trade a foreign company’s securities on their local market with the proviso that the foreign company complies with and maintains a valid listing on a recognised stock exchange in its home country.

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