08/10/2022
In recent months, Canadian mining companies have turned their attention to the London Stock Exchange (LSE), one of the world's oldest markets, as a complementary option for a dual listing. These include the likes of Taseko Mines, Pure Gold Mining, Thor Explorations, AEX Gold, Gensource Potash, and Wheaton Precious Metals.
The pull factor of markets in the United Kingdom (UK) is not so surprising, given the LSE has a long pedigree in the mining sector and offers deep pools of institutional capital, high liquidity, and sophisticated long-term investors. Indeed, Australian miners have been tapping the UK markets for a long time. London offers a diverse and long-established financial services ecosystem, with specialist research and analysts, corporate financiers, brokers, accountants, public relations (PR), and lawyers. It has always attracted significant mining corporations, such as Rio Tinto, Polyus, and Antofagasta, to its Main Market.
The LSE also works well for juniors, many of which have a market cap of less than US$100M. Over 3,000 companies worldwide have been listed on the LSE's AIM, launched in 1995 to help smaller; growing companies raise equity: many come from a natural resources background.
Adding a London listing can be very advantageous for companies that already have a listing on the Toronto Stock Exchange (TSX). A new investor pool of liquidity can be built.
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