Market capitalisation for miners on the TSX and TSX Venture rose from Can$325 billion in 2009 to $467 billion in 2010, according to a study released by Ernst & Young on Wednesday.
The study also found that the mining sector raised $17.7 billion through IPOs and private placements, eclipsing the oil and gas industry which only managed $11.3 billion.
The study also found that there were 52 mining initial public offerings on the TSX and TSX Venture that raised more than $1.3 billion.
Ernst & Young supports the merger of the TMX Group and LSE since it believes that the respective strengths of the two exchanges would complement one another.
In a report looking at increased market capitalization on the TSX by miners, Ernst & Young says that both the LSE and TSX provide rich sources of capital to companies at different stages in the mining lifecycle. While the TSX is good at attracting startup and exploration companies, the LSE is focused on developed and diversified businesses.
Orezone Gold Corporation (ORE:TSX) is pleased to announce that it has completed the sale of its Sega Gold Project ("Sega") in Burkina Faso to Cluff Gold plc (Cluff) for total consideration of approximately US$26.5M.