ASX-listed mineral explorer Black Mountain Resources has made a push to increase investor exposure by commencing trade on the London-based Alternative Investment Market.
The company listed on the AIM to give itself dual-listing, hoping to broaden its international investor base and accelerate its recommencement of low cost silver production at its Idaho and Montana silver/gold projects in the fourth quarter.
“The completion of this dual listing represents a key milestone in the Company’s corporate strategy as we focus on becoming a substantial low costproducer of high grade silver in tandem with capitalising on the significant exploration potential demonstrated across our portfolio,” said Black Mountain CEO John Ryan.
“Black Mountain is unique from a location, grade and cost perspective and exposure to both AIM and ASX will assist corporately with production targeted to commence at New Departure and Conjecture in Q4 this year.”
Black Mountain holds a 70 per cent share in three advanced silver/gold projects with historic mines at the Conjecture Project, located in Idaho, and the Tabor and New Departure Projects, located in Montana.
This month Black Mountain signed an exclusive long term lease for the Lakeview Mill, less than two km from the Conjecture Project, which is capable of processing 300 tonnes of ore per day with minimal upgrades.
In the past the AIM - the London Stock Exchange’s international market for smaller growing companies - has been a popular exchange for ASX company second-listings.
For businesses whose operations are less familiar to Australian investors, such as Black Mountains North American silver mining, the AIM gives them exposure to international investors who are better acquainted with those markets.
Black Mountain will trade on the AIM under the ticker BMZ.