GGG Resources (LON:GGG) has appointed Morgan Stanley Smith Barney as broker for its upcoming listing on the Australian Stock Exchange (ASX).
The Morgan Stanley Smith Barney office in Perth will act as lead advisors on the ASX share listing process, which GGG expects to complete before the end of 2010.
The ASX listing will give GGG access to additional equity funding sources to assist it with the continued fast-track advancement of its Bullabulling gold project in Western Australia, while also helping it gain new shareholders in Australia.
“Not only will Morgan Stanley Smith Barney be able to guide us expertly through the ASX listing process, its access to blue chip mining investors and excellent relationships with other financial institutions will be invaluable as we advance Bullabulling, our exciting Australian gold asset,” said GGG chairman Peter Ruxton.
GGG is targeting first production from Bullabulling by early 2013.
The company acquired a 50% stake in the project from Auzex Resources (ASX:AZX) in May.
With GGG’s involvement, Bullabulling moved forward swiftly, and the former mine’s resource has grown substantially from 430,000 ounces to 2 million oz of gold.
Back in September, GGG announced the details of a A$2 million drilling programme at Bullabulling to upgrade the inferred gold resource into the measured and indicated categories.
Drilling is expected to get underway this month, and the first results are slated for November.
The 18,000 metre programme marks the start of the company’s efforts towards the completion of a feasibility study on the fast-tracked project.
GGG Resources also reminded investors that it will maintain its listign on the AIM market of the London Stock Exchange.
Morgan Stanley Smith Barney is a JV (joint venture) between Morgan Stanley (NYSE:MS) and Citigroup (NYSE:C).