Resolute Mining Limited (ASX:RSG) shares were up 10% yesterday after announcing that shares have begun trading on the London Stock Exchange.
About Resolute
Resolute has more than 30 years of experience as an explorer, developer and operator of gold mines in Australia and Africa and has produced more than 8 million ounces of gold.
Dual Listing
Resolute shares benefitted yesterday from a rising gold price and the announcement of a dual-listing.
Resolute shares are now trading on both the London Stock Exchange and the ASX as of yesterday under the ticker code LSE: RSG.
Shareholders welcomed the dual-listing and rising gold prices, sending the share price 10% higher.
A dual-listing has several advantages, including greater liquidity, increased access to capital and the ability to trade for longer periods because of the time zone differences. A dual-listing also exposes the company to a larger pool of investors and increases awareness, and possibly reputation, of the company.
Managing Director and CEO John Welborn said it’s an exciting time for the company.
“We are delighted to deliver as promised on an important strategic goal for 2019. Today marks an exciting milestone for Resolute as our shares commence trading on the Main Market of the London Stock Exchange,” he said.
Is Resolute a Buy?
Resolute shares are down 16% in the last 12 months, so yesterday’s share price movement is surely a welcome move for shareholders. Personally, I try to avoid price-taking businesses that are ruled by commodity prices. However, if I was looking to invest in a gold miner, I’d be more inclined to look at one of the larger companies like Northern Star Resources Limited (ASX: NST). You can read more about that in this Rask Media article.
Above gold miners though, I’d be looking at one of the companies mentioned in the free report below.
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Disclosure: At the time of writing, Max does not own shares in any of the companies mentioned.