South Africa mineral explorer seeks investor gold on the London Stock Exchange
A South Africa-focused gold explorer is planning to float on the London Stock Exchange.
White Rivers Exploration, the largest land holder in South Africa’s Witwatersrand gold province, is planning a dual listing in the UK and in Johannesburg next year.
Read more: Top execs are expecting global IPO activity to re-ignite in the next year
The company was founded in 2007 by Australian explorer Mark Creasy, who is a major shareholder.
Neil Warburton, chairman of the company, told Morning Wire London was a “logical market for White Rivers – we believe there is significant investor appetite here for gold stocks”, adding: “London is also aligned with South Africa in terms of time zone.”
He said that other markets were considered “but our current preference remains a dual London and Johannesburg listing”.
Read more: Canadian group Jackpotjoy goes for bingo with London IPO in October
Asked why the firm was floating now, and whether the UK’s Brexit vote was a concern, Warburton said: “We do not think that has affected investor appetite for gold.”
He added: “We’re excited by the rebound in the gold price. We believe there’s a lot of investor interest in gold which makes this an opportune time to commercialise White Rivers.”