Continental plans dual listing

Perth-based Continental Coal has announced plans for a dual listing on London's Alternative Investment Market.

Canada-based investment bank GMP Securities Europe and Renaissance Capital will be appointed joint UK brokers.

The South Africa-focused coal miner said a listing on the AIM would improve its access to global investors and institutional support.

Historically, UK and European institutional investors have been strong supporters of Africa-focused resources firms and already make up a significant component of Continental's shareholder base.

"The Australian Stock Exchange and capital markets have proven to be a great platform for the initial development of Continental," Continental executive director Jason Brewer said.

"Through our ASX listing, we have successfully raised debt and equity funding for the initial acquisition and development of our coal assets in South Africa and Botswana.

"Our planned admission to the AIM Market will complement this and comes at a time of significant growth for the Company and I believe it will allow us to accelerate and execute further our production growth plans."

Continental expects the AIM listing to be completed by midway through this year.

At 10:06AM (WST) Continental shares were steady at 6.1 cents.