West Wits Mining Ltd (ASX:WWI) is now trading on the OTCQB Market under the ticker symbol 'WMWWF'.
Having met all the OTCQB’s high financial reporting standards, the company began trading on the exchange on May 25 to give current and potential North American investors with appropriate accessibility and liquidity the opportunity to invest in the company more easily.
The listing gives West Wits access to one of the largest investment markets in the world at nominal cost, with no additional compliance requirements, compared to traditional major exchanges.
“OTCQB trading provides West Wits Mining with access to the world’s largest investment market," West Wits Mining chairman Michael Quinert said.
"A growing number of ASX listed mining companies have sought dual trading in the US, in order to provide North American investors direct and real-time access to Australian mining companies. Key South African gold miners including Sibanye, AngloGold Ashanti (ASX:AGG) and Harmony all have US main board listings.
"West Wits is at a pivotal stage of its development with the Witwatersrand Basin Project transitioning to production, we’re excited to be broadening our exposure in the global investment community.
"Joining the OTCQB market will be matched with an active investor engagement program, to ensure our investment attractions and growth prospects are highlighted with new investors.”
There will be no new shares issued in connection with the OTCQB Market listing, with real-time quotes and market information now on the OTC Markets website.
West Wits is in the process of applying for Depository Trust Clearing (DTC) eligibility, which facilitates electronic trading of securities by individual investors that use self-managed online broking accounts, as opposed to trading through full services brokers.
The company’s primary listing remains on the ASX.