Western Australia’s FireFly Metals Ltd (ASX: FFM) will soon be dual-listed with shares on the Toronto Stock Exchange. The mining company received approval for the listing on Wednesday and will commence trading on Dec. 16.
The aim is to increase FireFly’s trading volume in North America where its flagship mining assets reside. The Green Bay copper-gold project in Newfoundland’s Baie Verte Peninsula and the Pickle Crow gold operation in Ontario have attracted significant attention from investors.
On another note, FireFly just reported its best drill result to date at Green Bay. The 86.3-metre intercept contained 3.7 per cent copper equivalent. Over 49,000 metres of drilling have been completed since the site was acquired last year.
Furthermore, FireFly recently expanded its mining territory adjacent to Green Bay by acquiring the Tilt Cove property and the three mines situated within. This acquisition followed FireFly expanding its property area in Baie Verte by 169 square kilometres last December when it bought a substantial land package from Gold Hunter Resources Inc (CNSX: HUNT).
FireFly Metals currently has a cash balance of C$79.6 million to fund its activities, with no debt. Green Bay’s estimated mineral resources recently increased by 42 per cent after the latest assessment was completed. Certain financial analysts, like the Australian firm Argonaut, have a bullish outlook for the company.
Argonaut raises price target on Firefly Metals to $2.00/share after a site visit to $FFM’s Ming Mine and Green Bay #Copper–#Gold Project in Newfoundland, Canada. Analyst George Ross: "The project appears to be everything promised and more." ⬇️ pic.twitter.com/HwbUzsQmik
— Stefi Maher (@StefiMaher) October 10, 2024
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FireFly attends Newfoundland minerals conference
In November, the Canada-focused operator attended the Mineral Resources Review conference in St. Johns. It was hosted by the Canadian Institute of Mining Metallurgy and Petroleum (CIM).
Canada’s Minister of Energy and Natural Resources, Jonathan Wilkinson, was one of the most notable attendees.
This non-profit organization currently runs the CIM Magazine — a digital publication with some intriguing mining industry content. On Dec. 9, it published a lengthy article highlighting some of the most recent software developments and AI applications in the sector.
The CIM will be hosting the 57th annual Canadian Mineral Processors Conference in Ottawa on January 21. One week prior, the organization will be attending the Nova Scotia Mineral Resource Forum.
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