Gold miners in Canada keen to tap new investors are eyeing secondary listings in London and New York, underscoring pent-up demand for the precious metal from generalist funds.
Gold prices have soared 32% this year as central banks dial up stimulus measures in response to the Covid-19 pandemic.
That has fueled a cash surge for miners, who have hiked dividends and pledged cost discipline to broaden their appeal beyond a shrinking pool of resource-only investors.
A listing in New York or London opens the door for miners’ shares to be included in many more exchange-traded funds (ETFs) – guaranteeing substantial liquidity and broadening their investor basis further.