Shares in Canada’s Erdene Resource (TSX:ERD), one of the very few companies that has successfully navigated Mongolia’s ever-changing policies on foreign mining investment, were off to the races on Thursday after the miner announced it had received approval for a secondary listing on the Mongolian Stock Exchange (MSE).
The Halifax, Nova Scotia-based miner also said it had launched an offering of common shares to Mongolian residents, as well as a concurrent non-brokered private placement, which in combination are expected to raise up to $4.4 million.
The company’s stock was up 4.7% to 34 Canadian cents by 10:25 a.m. ET
More to come…
The post Mongolia listing boosts investors confidence in Erdene Resource appeared first on MINING.com.
From:: Infomine