[ferro-alloys.com]Following its listing on the Toronto Stock Exchange on October 13, Newcrest Mining (TSX: NCM; ASX: NCM), Australia’s largest gold producer, hopes to improve the company’s global visibility and increase its North American investor base.

The company declined a request for an interview with its managing director and CEO Sandeep Biswas, but a spokesperson for the company said via email that a North American listing “is part of our strategy of pursuing growth in the Americas,” adding that the listing followed “increased interest from North American investors following our investments in Canada and Ecuador and the expansion of our exploration activities in the Americas.”

Around a third of Newcrest’s shareholders are based in North America and the TSX listing, it said, was timed to enhance the company’s trading offering to the North American market in response to growing investor interest in gold stocks.

Following its listing on the Toronto Stock Exchange on October 13, Newcrest Mining (TSX: NCM; ASX: NCM), Australia’s largest gold producer, hopes to improve the company’s global visibility and increase its North American investor base.

The company declined a request for an interview with its managing director and CEO Sandeep Biswas, but a spokesperson for the company said via email that a North American listing “is part of our strategy of pursuing growth in the Americas,” adding that the listing followed “increased interest from North American investors following our investments in Canada and Ecuador and the expansion of our exploration activities in the Americas.”

Around a third of Newcrest’s shareholders are based in North America and the TSX listing, it said, was timed to enhance the company’s trading offering to the North American market in response to growing investor interest in gold stocks.

Newcrest’s board has also approved a front-end recovery project at its Lihir mine in PNG, which primarily comprises the installation of flash flotation and additional cyclone capacity and cyclone efficiency upgrades, to improve grinding classification and reducing gold losses through the flotation circuits.

The project, the company said, will cost $61 million and is expected to deliver additional production of 244,000 oz. of gold through an improvement in gold recoveries of 1.2% over the life of the mine.

“Lihir’s long reserve life makes this improvement in gold recoveries particularly valuable to our shareholders,” the spokesperson said.

The mine produced 776,000 oz. of gold during the 2020 financial year.

Over the next 12 to 18 months, Newcrest plans to advance Red Chris and farm-out its Havireon gold project, located 45 km east of its Telfer gold and copper mine in Western Australia, it said.

The company also plans to progress its early-stage entry approach and advance greenfield exploration to search for additional Tier 1 and Tier 2 deposits globally.

“We have a very strong balance sheet, conservatively positioned to enable us to progress our pipeline of organic growth options and exploration prospects,” the spokesperson said. “Our growth projects will be adding value to our existing, large-scale, long-life operations.”

At press time in Toronto, Newcrest was trading at C$30.00 per share within a 52-week trading range of C$29.51 and C$31.25.

The company has roughly 817 million common shares outstanding for a C$24.5-billion market capitalization.

(Mining.com)

• [Editor:王可]