CC & KO, NiMin Energy (NNN.TO) -- As I've said previously I'd be surprised if this is not listed on a US exchange (AMEX, Nasdaq) by this time next year. The company CFO has previously indicated that listing in the US was in their LT plans.
I believe they would ideally like to wait until their CMD pilot project has at least become cash flow positive before trying to get a listing. Hopefully that would coincide with them being in the midst of a torrid drilling program in Wyoming and thus the stock would stand a good chance of then being over $2, in which case they could meet at least the Amex listing criteria without having to do a reverse split. Also I think these Canadian juniors have found that its best to wait until the company is generating a profit, along with solid positive cash flow, before listing in the US. I'm not expecting that to happen for NiMin until 3Q at the earliest, so that translates to a US listing happening late this year, in my view.
The stock is currently listed on the OTCQX, the successor to the "Pink Sheets". Until 2 weeks ago there was little if any trading on that exchange, but for some reason the volume really started to pick up recently and has averaged over 50K shares a day for the last 2 weeks, a volume level that is not much less than what this stock used to trade on the TSE up until this latest offering got announced. This is encouraging, and if the volume stays up on the OTCQX it would be a clue that the US investors are finding this stock to be of great interest, and might induce the company to start thinking about listing in the US sooner rather than later. |
