Roxmark Shares Finally Obtain TSX Venture Exchange Listing
Wednesday, April 25, 2007
A year ago today, we introduced Roxmark Mines as a long term junior gold and molybdenum investment. We were expecting a stock listing in Toronto (TSXV) within months to allow the stock to escape the thin trading doldrums of the little known CNQ exchange. Today, after a lengthier than expected application process, they were finally able to announce that the stock has been approved for listing on the TSX Venture exchange, starting on Friday, April 27, under the symbol “RMK”.
The new listing could prove to be very timely, as the new Sprott molybdenum fund, which has helped spark a strong rally among molybdenum miners, just IPO’ed last week. Now, Roxmark, with their high-grade Nortoba-Tyson project , can join in the molybdenum rally with their transition to an exchange where funds and institutional investors participate (most won’t touch a stock on the CNQ, and most retail investors have never even heard of the CNQ).
Unlike most junior molybdenum miners, Roxmark has a fully permitted and operating mill, and has already started test production. They plan more test production for this year, followed by full commercial production.
In addition, their mill is permitted and operational for gold processing. With their 10 gold properties, including 6 former high-grade producers (which were still producing high grades when shut down due to low gold prices -- the average recovered grade over the last ten years of the Leitch Mine’s operation was 1.15 oz.Au/ton) with lots of existing infrastructure, Roxmark has huge potential for near-term gold production as well. Their development program calls for using cash flow from their molybdenum production to help fund the development of the gold mines.
With their new listing, Roxmark will be able to obtain the small financing required for full production on their molybdenum and gold properties much more easily than while on the CNQ. If all goes well, they could be in full production with both molybdenum and gold by next year, handsomely rewarding investors.
posted by GreatTrades # 8:03 PM
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