Listing Supports Increase In US Interest In Company’s Nickel Developments
Blackstone Minerals (ASX: BSX) has successfully commenced trading on the US- based OTCQX Best Market under the code of OTCQX: BLSTF.
Managing Director, Scott Williamson, said the graduation to OTCQX Best Market is due to the rapid increase in value of Blackstone’s shares.
He said the company has been trading on the OTCQB since December 3, 2020 and it is pleasing to be upgraded to the OTCQX in such a short period of time.
The OTCQX Best Market is the highest market tier of OTC Markets on which 11,000 U.S. and global securities trade.
To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
Three key advantages for North American investors are:
- Trades and settlements are in US Dollars (USD);
- Trading in the North American time zone; and
- The OTCQX share is the same class of Ordinary Share to ASX traded stock (ASX: BSX), not a synthetic. The shares are simply registered in two different registries.
Mr Williamson said that while Blackstone’s primary listing will continue to be the Australian Securities Exchange (ASX), trading on OTCQX will further enhance the visibility and accessibility of the company to US investors.
“This important step in the growth aspirations for the company follows on from the significant interest shown by North American Investors.
“This step is part of the company’s strategy to raise awareness of the company’s Ta Khoa Nickel-Copper-PGE Project, located 160km west of Hanoi in the Son La Province of Vietnam.
“We’re pleased to be trading on the OTCQX shortly after commencing trading on the OTCQB, this means we’re now trading on the highest level of OTC markets.
“Blackstone will continue to target the North American investor market, from which we are seeing growing enthusiasm for our integrated upstream and downstream processing strategy to produce green nickel products for the electric vehicle and lithium-ion battery industry.”