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General mining & base metals

Greatland Gold to set up Australian holding company ahead of ASX listing

Greatland Gold has appointed Yasmin Broughton as an independent non-executive director.

A corporate lawyer, Broughton specialised in mergers and acquisitions, corporate finance and corporate governance at law firms, Clayton Utz and Ashurst.

Shaun Day, Greatland's managing director, said the appointment further strengthens the board ahead of its planned listing on the Australian stock exchange.

GGP is advancing its preparations for a cross-listing with AIM, which is targeted for the September 2023 quarter.

The gold miner said it remains committed to the AIM market and its UK shareholders but an ASX listing will improve liquidity, its profile in Australia and give it access to deeper capital pools.

As part of the listing, Greatland intends to reorganise its structure with the group to sit under a new parent company incorporated in Australia.

Day added: "Greatland has an ambitious growth agenda and the appointment of Yasmin Broughton to our board is timely in the lead up to our planned listing on the ASX.

"While we consider that a listing on the ASX is important to support the creation of long-term shareholder value, the UK remains an important market for Greatland and accordingly our shareholders will continue to be able to trade on the LSE's AIM.

"Further, the potential simplification of the organisational structure would remove some of the current costs and complexity associated with having operations in Australia while being corporately domiciled in the UK."

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