Matador Mining Ltd (ASX:MZZ) (FRA:MA3) is seeking to broaden its investor base by listing on multiple international platforms to complement its Australian Securities Exchange listing.
Owing to increased demand from North American investors wanting the opportunity to buy Matador shares in their own currency and time zone, the company intends to list in the USA on the OTC Markets in coming weeks with the ticker MZZMF.
Matador recently listed on the Frankfurt Stock Exchange with the ticker MA3 following an increase in investor activity in Europe.
Approximately 8% of the current share register are European investors at present and the company expects this will increase as awareness of its gold asset increases.
Trading on both platforms is expected to increase investor awareness of Matador in both continents and diversify the company’s shareholder base.
A number of the company’s ASX peers have recently been listed on these platforms with strong success.
Matador is a gold exploration company with tenure covering 120 kilometres of continuous strike along the highly prospective, yet largely under-explored Cape Ray Shear in Newfoundland, Canada.
The company released a scoping study that outlined an initial potential seven-year mine life, with a forecast strong IRR (51% post tax), rapid payback (1.75 years) and LOM AISC of US$776/ounce.