MINING MARKETS & INVESTMENT NEWS — Caledonia looks to regain listing

Toronto-based Caledonia Mining has been dropped from the Nasdaq board for failure to keep its head above the minimum trading level of US$1.

However, the company is negotiating with CIBC Wood Gundy to restructure a project loan given to Spanish subsidiary Filon Sur and has made a deal to convert $20 million in unsecured debentures into shares.

Caledonia says it will seek a review of Nasdaq’s decision to suspend trading now that it has begun restructuring its debt. The company maintains a listing on the Toronto Stock Exchange under the symbol cal.

* On the Vancouver Stock Exchange, British Columbia-based Geologix Explorations has been called for trading under the symbol GIX. In its initial public offering, the company raised $420,000 through the sale of 1.2 million shares at 35 cents each. The proceeds will be used to fund exploration at the Dromedary polymetallic property, in the Yukon, in which the company can earn a 60% interest. Geologix has 4.8 million shares issued and outstanding.

Print

Be the first to comment on "MINING MARKETS & INVESTMENT NEWS — Caledonia looks to regain listing"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close