Jindalee Resources Ltd (ASX:JRL) will make its first appearance on the US-based OTCQX exchange platform today in a move the company says will increase its accessibility to US investors.
The OTCQX Best Market is the highest tier of OTC Market Group’s market platforms, featuring 11,000 US and global securities.
Jindalee was drawn to the OTCQX’s high financial standards, including requirements for best practice corporate governance and compliance with applicable US securities law.
US market access
Trading on the OTCQX will enhance the company’s visibility and accessibility to the extensive market of North American retail, high net worth and institutional investors.
Advantages of Jindalee’s inclusion on the OTCQX platform include that:
- trading is in the local time zone;
- trades and settlements are conducted in US dollars with no exchange rate risk or additional FX fees; and
- the OTCQX share is the same class of ordinary share as ASX-traded stock.
Jindalee’s primary listing will continue to be the ASX.
About Jindalee
Jindalee Resources is an exploration company with direct and indirect exposure to lithium, gold, base and strategic metals, iron ore, uranium and magnesite. The company has a track record of rewarding shareholders, including priority entitlements to several successful IPOs and payment of a special dividend.
Jindalee controls two 100%-owned lithium projects in the US – McDermitt and Clayton North.
McDermitt is one of the largest lithium deposits in the US following a resource update revealing more than 10.1 million tonnes of contained lithium carbonate equivalent (LCE).
In September 2021 Jindalee announced the results of a positive preliminary scoping study, which highlighted the significance of McDermitt as a potential long-life source of future supply to the rapidly growing US battery manufacturing industry.
Jindalee continues to advance McDermitt through 2022 with infill and extensional drilling, metallurgical test work and baseline environmental work planned or currently underway.