OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF) presence in the United States market has just expanded after beginning trading today on the OTCQX Best Market under the “OCANF” ticker.
The company and OTC Markets Group Inc. (OTCQX: OTCM), announced the qualification to trade on Monday and has been updated from the Pink market. OceanaGold is an intermediate gold and copper producer operating the Haile Gold mine in the U.S. the Didipio Mine in the Philippines and the Macraes and Waihi operations in New Zealand.
“Trading on the OTCQX will enhance access to OceanaGold shares for more U.S. investors,” OceanaGold CEO Gerard Bond said in a statement. “This is part of our broader strategy to be closer and more accessible to our North American investors, following the delisting from the ASX in 2022.”
The company recently announced the first ore from the Horseshoe Underground and will deliver its first stope ore in October 2023 at its Haile Gold mine.
Moving up to the OTCQX Market is a significant move for businesses that want to offer clear and fair trading options for their U.S. investors. If a company is already listed on a recognized international exchange, it can use its home market reports to share information in the U.S., which makes things simpler.
However, to be eligible for OTCQX, companies need to meet strong financial criteria, follow good corporate governance practices, and show that they follow the rules of U.S. securities laws. This helps ensure that investors can trust and rely on the companies they invest in.