Multi-listed First Cobalt has applied for removal from the official list of the Australian Bourse, with the company’s CHESS depository interests (CDI’s) likely to cease trading by June 13, with delisting expected by June 20.
First Cobalt told shareholders on Thursday that the company’s average daily trading volumes on the ASX were low compared to the TSX-V, and given the register of CDI’s is tightly held, First Cobalt has experienced difficulty in raising additional capital from either new or existing shareholders on the Australian register.