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Xanadu Mines Ltd

Xanadu Mines to list today on the Toronto Stock Exchange

Xanadu managing director & CEO Dr Andrew Stewart believes the listing will boost awareness of its Mongolian porphyry copper-gold discovery.

Toronto Stock Exchange
Toronto time

Xanadu Mines Ltd (ASX:XAM) (FRA:02X) (TSX:XAM) will start a new era as its securities begin trading today on the Toronto Stock Exchange with first toll of the bell in Canada.

The company views the listing as a milestone and expects the move will bolster its international profile and understanding of its potential in North America.

READ: Xanadu Mines directors demonstrate confidence in company’s Mongolian copper-gold strategy

Xanadu managing director & CEO Dr Andrew Stewart said: ”We are very pleased to be listed on the TSX now, as well as the ASX, as it will allow the company to develop a broader awareness of our significant porphyry copper-gold discovery in Mongolia’s south Gobi on two of the best resource exchanges globally.

“The listing constitutes an important milestone for Xanadu, providing a local trading platform for existing and new Canadian shareholders and investors.

“The listing will further build the profile of the Company and understanding of its potential among North American investors.”

READ: Xanadu Mines commences drilling to boost project economics

The listing comes at a busy time for Xanadu.

Stewart said: “Our TSX Listing is timely given the substantial amount of activity planned, including the resource upgrade and preliminary economic assessment on our Kharmagtai Project which is due quarter 4, 2018.”

READ: Xanadu Mines attracts $10 million for copper-gold project in Mongolia

Kharmagtai is in the prolific South Gobi region which also hosts the Oyu Tolgoi Copper-Gold Project where open-pit mining is being carried out and the large underground mine is in development.

Xanadu’s flagship Kharmagtai project is one of the most promising porphyry copper-gold projects in Asia and hosts three porphyry deposits within a largely under-explored porphyry copper-gold district.

Kharmagtai has a JORC-compliant resource of 203.4 million tonnes grading 0.34% copper and 0.33 g/t gold for 1.5 million pounds of copper and 2.2 million ounces of gold.

Xanadu also has an expanding portfolio of exploration projects, including Red Mountain in the south and Yellow Mountain in the north.

Quick facts: Xanadu Mines Ltd

Price: $0.06

Market: ASX
Market Cap: $42.68 m
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