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Business News

Miner mulls London listing

Newstrike Capital, a Toronto Exchange-quoted gold explorer backed by a powerful oil and mining dynasty, is looking at a secondary listing in London to tap into institutional investors.

The company's chief executive, Richard Whittall, believes that the group's Mexican sites could hold vast gold reserves.

The Swede Lukas Lundin, whose father built the family fortune after discovering gas in Qatar in the 1970s, and the rest of the family are currently the company's biggest backers.

Mr Whittall said: "As we grow our market capitalisation, a dual listing in London would possibly make infinite sense because of the presence of resource miners in the UK."

Newstrike has already been approached to join the Hong Kong Stock Exchange.