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Asante Gold conditionally approved for Toronto venture exchange listing

Processing plant. (Image courtesy of Asante Gold.)

Canada’s Asante Gold said on Tuesday it had been conditionally approved to list its common shares on the TSX Venture Exchange, which offers earlier-stage companies access to public venture capital. 

The move, chief executive David Anthony said, will provide the company with increased liquidity, greater visibility, and enhanced market access for Canadian and international investors.

“We believe that a TSX-V listing can attract a wider investment audience including those institutions with investment mandates that specify certain exchanges, including the TSX-V,” Anthony said.

A timeline for the listing will be announced once the company receives final approval.

Upon listing on the TSX-V, Asante will apply to delist its common shares from the Canadian Securities Exchange, or CSE.

Asante currently operates the Bibiani and Chirano gold mines, both in Ghana, which are expected to produce 335,000 ounces of gold (combined) over the next 12 months.

The Vancouver-based miner acquired Bibiani last year from Australia’s Resolute Mining (ASX, LON: RSG). In June, it bought the Chirano gold mine, located immediately south of Bibiani, from Kinross Gold (TSX: K)(NYSE: KGC).