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South Africa mineral explorer seeks investor gold on the London Stock Exchange

Reproduced from CityA.M. 08092016

A South Africa-focused gold explorer is planning to float on the London Stock Exchange.

White Rivers Exploration, the largest land holder in South Africa’s Witwatersrand gold province, is planning a dual listing in the UK and in Johannesburg next year.

The company was founded in 2007 by Australian explorer Mark Creasy, who is a major shareholder.

Neil Warburton, chairman of the company, told City A.M. London was a “logical market for White Rivers – we believe there is significant investor appetite here for gold stocks”, adding: “London is also aligned with South Africa in terms of time zone.”

He said that other markets were considered “but our current preference remains a dual London and Johannesburg listing”.

Asked why the firm was floating now, and whether the UK’s Brexit vote was a concern, Warburton said: “We do not think that has affected investor appetite for gold.”

He added: “We’re excited by the rebound in the gold price. We believe there’s a lot of investor interest in gold which makes this an opportune time to commercialise White Rivers.”