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Matador Mining begins trading on OTC Markets in US

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Matador Mining Ltd (ASX:MZZ) (OTCMKTS:MZZMF) (FRA:MA3) has completed a secondary listing on the OTCQX market of the OTC Markets in the United States and began trading on Friday, May 14, 2021, under the ticker MZZMF.

The company said trading of its shares on the OTC was aimed at enhancing the visibility and accessibility of the company to North American investors.

This listing will allow potential North American investors to both trade and settle during US trading hours in US dollars.

Interest from North America

Executive chairman Ian Murray said: “With our largest ever exploration program underway, in arguably North America’s most exciting gold jurisdiction, we have been receiving a significant increase from investors based in the region.

“An OTCQX listing allows for North American investors to more easily buy shares in Matador in their own time zone and currency.

“We look forward to keeping investors updated in what promises to be an exciting year for the company.”

OTC trading platform

The OTC is an established trading platform, operated by OTC Markets Group in New York, providing live market trading in companies that hold primary listings in other markets.

Trading of Matador shares on the OTC imposes no additional compliance or regulatory standards over and above the company’s existing compliance requirements as an Australian incorporated entity listed on the Australian Securities Exchange.

OTC trading is non-dilutive to existing Matador shareholders, as no new shares are being issued to enable trading on the OTC.

Cape Ray focus

Matador has tenure covering 120 kilometres of continuous strike along the highly prospective, yet largely under-explored Cape Ray Shear in Newfoundland, Canada.

A scoping study last year outlined an initial potential seven-year mine life, with a forecast strong IRR (51% post-tax), rapid payback (1.75 years) and LOM AISC of US$776 per ounce.

The company is undertaking the largest exploration program carried out at Cape Ray with upwards of 20,000 metres of drilling targeting brownfield expansion and greenfields exploration.

Story by ProactiveInvestors


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