Mayfair Gold (TSX-V:MFG) has begun trading shares on the New York Stock Exchange (NYSE) under the ticker code MINE.
The company will remain listed on the TSX Venture Exchange and has ceased trading on the OTCQX market.
Mayfair Gold says the uplisting to the NYSE marks an advancement in its strategy to expand its US shareholder base and increase US capital markets exposure.
CEO Nick Campbell says the company is “happily surprised” that the ticker code MINE was available for Mayfair and believe it is an appropriate ticker for the company.
“We are advancing the Fenn-Gib Gold Project in the Timmins gold district in Ontario, Canada, to create a new Canadian gold mining company – we are going to build a new mine,” Campbell says.
“I can’t think of a better ticker for Mayfair. This listing removes barriers and makes it easier for US investors to benefit from Mayfair’s advancement of the Fenn-Gib Gold Project.”
As Mining.com.au reported, Mayfair Gold completed a Prefeasibility Study earlier this month, outlining a post-tax net present value of US$1.37 billion ($2.04 billion) with an internal rate of return of 38% based on a US$4,500 per ounce spot gold price.
Fenn-Gib is expected to process an average grade of 1.47 grams per tonne gold over the first six years of operation for an average annual gold production of 71,336 ounces at an all-in sustaining cost (AISC) of US$1,171 per ounce.
The project is expected to produce an average grade of 1.29g/t gold over the 14.3-year reserve life for an average of 64,096 ounces produced annually, at an AISC of US$1,292 per ounce.
Fenn-Gib has an indicated resource of 4.3 million ounces of gold and 100,000 ounces in the inferred category.
Mayfair Gold is an emerging Canadian gold developer focused on advancing Fenn-Gib into production.
Write to Aaliyah Rogan at Mining.com.au
Images: Mayfair Gold
