Wiluna Mining Corporation Ltd (ASX:WMC, OTC:WMXCF), an Australian gold producer has announced that it plans to list on the London Stock Exchange (LSE) within the next quarter.
Speaking to Proactive, Milan Jerkovic from Wiluna says all the company’s shareholders “are either in Germany, London, Russia, North America, with very few in Australia.”
As a result, there exists “a desire to establish itself on the mainboard.”
It also revealed impressive stats, with Jerkovic saying it has 3mln oz of gold at five and a half grams.
Jerkovic announced plans to increase production drastically over the next couple of years.
Currently, its site in Western Australia produces roughly 52,000oz of gold. It plans for that number be closer to 120,000oz by June 2022.
Wiluna will conduct a further feasibility study in March 2022 to continue its expansion towards producing 250,000oz of gold by 2023.
The company, formed in 2006, was able to maintain its momentum despite a lag in drilling due to COVID.
It managed to raise A$53mln amongst existing shareholders to continue expanding its production, with its largest shareholder, Delphi of Germany, contributing A$18mln and Russian miner Polymetal becoming an investor.
He also said the company also said it had some of the best exploration results in the past 18 months.