FireFly Metals Ltd (ASX:FFM) has started trading on the main board of the Toronto Stock Exchange (TSX) under the symbol FFM in a move aimed at capitalizing on strong North American investor interest in the company’s Green Bay Copper-Gold Project in Newfoundland, Canada.
The TSX listing is in addition to the company’s primary Australian Securities Exchange (ASX) listing under the ticker FFM.
As a compliance listing only, this move has not been accompanied by a capital raising as FireFly is fully funded to execute its 2025 growth strategy with A$88 million in cash at the end of October 2024.
READ: FireFly Metals seeks to capitalise on strong North American interest through dual listing
Existing shareholders can trade their securities on the TSX. However, prior to trading on the TSX, shareholders will need to request to reposition their shares from the Australian principal share register to the Canadian branch share register and establish an account with an appropriate broker.
FireFly, which has two of its board members located in Toronto, believes the TSX listing will help increase its profile in the North American investment community and attract local exploration and development talent.
Strategy to grow resource
The company has a clear strategy to rapidly grow the copper-gold resource at Green Bay to demonstrate a globally significant copper-gold asset and with this aim has commenced a 130,000-metre diamond drilling program.
Green Bay’s resource stands at 460,000 tonnes of contained metal at a grade of 1.9% copper-equivalent within measured and indicated resources and an additional 690,000 tonnes within inferred resources at 2% copper-equivalent.