Azimuth to list on TSX

Shares in Guyana-focused gold explorer Azimuth Resources have spiked after it announced it was seeking a dual listing on the Toronto Stock Exchange.

At 1:59PM (WST) Azimuth shares had gained 8.2 per cent to trade at 33 cents.

Azimuth's directors said the dual listing would provide increased liquidity to shareholders and improve access to the Canadian, US and other northern hemisphere capital markets.

"The North American capital markets have a very good understanding of Guyana as a resource investment destination and there are a number of successful South and Central American gold explorers listed on the TSX which can be used as benchmarks for the valuation of Azimuth," the company said in a statement.

Azimuth said it would commence the listing process for the TSX immediately.