OceanaGold Corporation — the owner of the Macraes gold mine — is delisting from the Australian Securities Exchange.
The company has received formal approval from the ASX to be removed and it was expected it would occur on August 31. Shares would continue to be traded on the Toronto Stock Exchange.
In a statement, it cited ongoing low trading frequency, low volumes traded and limited index inclusion of CDIs (Chess Depository Interest) traded on AXS compared with that of the TSX.
OceanaGold believed the financial, administrative and compliance obligations and costs associated with maintaining the listing were no longer in the best interests of its shareholders. The delisting was also expected to lead to an increase in the company’s liquidity on the TSX.
The company also released its results for the quarter ended June 30.
It showed second-quarter revenue of $US229 million ($NZ364 million), ebitda of $US75m and net profit after tax of $US19m led to record first-half revenue of $US515m, ebitda of $US233m and net profit after tax of $US98m.
