Azure Minerals postpones Canadian listing

West Perth-based Azure Minerals Ltd says it has decided to postpone its planned listing on the Canadian stock market due to the current difficult investment climate.

Azure was expected to list on the Toronto Stock Exchange's Venture Exchange, which forms part of the largest stock exchange in the world for trading mineral resource securities.

After careful consideration and advice from its Canadian corporate advisors, Versant Partners, Azure said it had determined that proceeding with the secondary listing and share issue at the present time would not be in the best interests of shareholders.

The net proceeds of the share issue were to be used to continue the company's exploration program at its Pozo De Nacho, Jagüey and Los Chinos projects in Mexico.

"The North American markets will remain a focus of Azure's growth strategy as the company develops its Mexican projects," the company said.

"Azure is continuing its active drilling program and encourages shareholders to review the company's quarterly activities report due to be released later this month that will provide an update on the significant progress made during the past three months and an outlook for the coming quarter."