Ivanhoe Mines shares to begin trading on U.S. NASDAQ Stock Market
new.stockwatch.com
2003-11-17 08:31 ET - News Release
NEW YORK, Nov. 17 /PRNewswire-FirstCall/ -- Ivanhoe Mines' Chairman Robert Friedland announced today that approval has been received for the company's shares to be traded in the United States on the NASDAQ Stock Market, under the symbol HUGO. The approval is subject to the company filing its Form 40-F with the Securities and Exchange Commission. Ivanhoe has commenced the filing and expects that trading could begin as early as Tuesday, November 18th.
Ivanhoe Mines' NASDAQ trading symbol HUGO was selected to pay tribute to the work and life of Hugo Dummett, Ivanhoe's former Executive Vice-President, Project Development. Mr. Dummett, who died in an accident in South Africa a year ago, was one of the best-known geologists in the international mining community and a leading authority on large-scale porphyry copper deposits.
Mr. Dummett also was Deputy Chairman and Executive Vice-President, Exploration, of African Minerals, an Ivanhoe Capital Corporation affiliate that has a nickel and platinum-group metals project in South Africa. He was previously Vice-President, Minerals Discovery, for BHP Minerals and was a leading figure in the discoveries that led to the creation of Canada's diamond industry. He also was President of the Society of Economic Geologists, the most prominent professional association of its type in the world.
"Ivanhoe has built a substantial following among U.S.-based fund managers and investors because of widespread interest in our Turquoise Hill copper and gold discovery in Mongolia," Mr. Friedland said. "The NASDAQ listing is expected to increase the visibility and analytical coverage of our securities, coinciding with management's focus on establishing a broader base of financial support for our planned development of a world-scale copper and gold mine at Turquoise Hill, strategically located on the doorstep of the world's largest consumer and importer of copper - China."
In September, Ivanhoe renamed the largest and highest-grade deposit at Turquoise Hill (Oyu Tolgoi) the Hugo Dummett Deposit. As Ivanhoe advances the Turquoise Hill project toward production, the underground development of the Hugo Dummett Deposit will be known as the Hugo Mine. |
