Canadian Mining Journal


Endeavour Mining eyes dual listing after Semafo acquisition

Endeavour Mining (TSX: EDV), a Toronto-listed gold mining company with assets in West Africa, is assessing whether to dual list on either the London or New York exchanges as it looks to attract new investors following its recent acquisition of Semafo (TSX: SMF), its smaller rival in the region.

“We are going to move to one or the other,” Sébastien de Montessus, Endeavour’s director and CEO, said in an interview with the Financial Times on Aug. 11. “We are currently assessing which is the most relevant and attractive given our portfolio and locations and also the fit in terms of governance and liquidity,”

During a conference call with analysts a few days earlier, James Andrew Keith, mining analyst at RBC Capital Markets, asked de Montessus whether an additional listing looks more attractive given the company’s increase in market capital liquidity following the acquisition of Semafo.

“The objective for us was first to close the transaction with Semafo and progress on the integration,” de Montessus replied. “I believe that things are now in the right place. And we always said that at the right time, we would consider secondary listing.”

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