Not sure when or If Tony will every get around to the TSX listing... he seems to mention it in every presentation, but he has been saying it for a long time now and it still hasn't happened...
In truth I never really gave the TSX listing much thought... a couple of posters seem to think this is going to be great for the coy... however I thinks its another mistake... for one its going to ad further dilution when it does happen, though being traded on the TSX, the listing effects the MC, not to mention the costs of the annual listing every year.. I did some research and came across a survey of dual listed ASX resource companies..
Makes for some very interesting reading... IMO if we have a chance to vote for this movement, I will be voting NO... There are some good points for dual listing, my main reason for the NO is because I think Tony hasn't proven himself to ASX shareholders yet, dual listing will give him full advantage to play the CR game all over again and just dilute the register for years to come, not to mention keep moving the so called goal post's further out... my understanding from this dual listing survey is the companies seem to benefit more than the Shareholders...
some copy and paste questions to consider:
Has the dual listing / quotation met your company’s expectations?
Exceeded expectations: 6%
Met expectations: 44%
Has not met expectations: 50%
How many trips did a representative of your company make over the past 12 months to see investors in North America or Europe (or, if your company has been dual listed / quoted less than 12 months, how many trips do you expect a representative of your company to make over the next 12 months to see investors in North America or Europe)?
Nil: 6% One trip: 13%
Two trips: 31%
Three or more trips: 50%
Are there any significant benefits of your company’s dual listing / quotation and, if so, what are they?
No: 62%
Yes: 38%
The principal benefit cited was access to foreign investors, some of whom may be more loyal than Australian investors, particularly for small and mid-cap companies with projects outside Australia. So again this is more a beneficial to the coy, not to the current Share holders... everything about the dual listing seems to benefit the company, not the share holders... Its like the coy's focus goes else where if the ASX listed shareholders arnt responding to the companies movements via the SP... Hence why I think Tony wants to do the dual listing, its to his benefit not ours..
TSX is the exchange most focused on resources companies. This means investors are familiar with resources companies but, as one person has noted, it may be more difficult for smaller exploration or development stage companies to get visibility.
Given the nature of a public offering, the listing and compliance burden is relatively significant. Most notable is National Instrument 43-101 Standards for Disclosure for Mineral Projects, which is generally viewed as more onerous than JORC. For information on listing requirements for TSX and TSX-V, see Annexures 4 - 5.
be interesting to hear some of your thoughts on the subject....
AZS Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held