Hmmmmm24 Jun 2010 16:09
LONDON (Dow Jones)--West African-focused miner African Aura Mining Inc. (AFRIF) is actively discussing separating its gold and iron ore assets into two listed companies, Chief Executive Luis Da Silva said Thursday.
The board is considering creating a gold company listed in Toronto and an iron ore company listed in London, Da Silva told Dow Jones Newswires.
"The board is actively discussing that right now," Da Silva said. "That is a view shared by investors and analysts and something the board is pursuing in order to create maximum share value."
African Aura has a primary listing on TSX Venture Exchange with a CAD94.88 million market capitalization. It has a secondary listing on London's AIM exchange with a market capitalization of GBP61.85 million.
"What seems to make the most sense is a gold company in Canada and an iron ore company in London," Da Silva said.
Da Silva said an GBP11.3 million equity raising in April brought more investors to the company that are interested in single commodity companies.
"It is more topical now that we raised cash," he said. "The majority of people want to see that happen."
-By Matthew Walls, Dow Jones Newswires; +44 (0)20 7842 9412; matthew.walls@dowjones.com
I have no idea whether this is good or bad