South African based Merchantec Capital congratulates Southern Palladium Limited on its successful primary listing on the Australian Securities Exchange (ASX) and secondary listing on the Johannesburg Stock Exchange (JSE).
The company is now trading on the JSE’s Main Board in the “Platinum and Precious Metals” sector.
“We are proud to have been the appointed JSE Sponsor in bringing about Southern Palladium’s listing, which is testament to the team’s focus and hard work over the last few months.” said Monique Martinez, Director: Head of JSE Sponsor Services at Merchantec Capital.
Co-ordinating a simultaneous secondary listing requires an in-depth knowledge of the interpretation and application of the JSE Listings Requirements and the ability to harmonise these with the requirements of the primary exchange; it also requires experience in working with multiple regulators over different jurisdictions and time zones.
Johan Odendaal, Managing Director of Southern Palladium said, “Merchantec Capital’s services were professional right from the start, they expertly guided us through the whole process, and ensured that the listing process was completed smoothly.”
The capital raised by Southern Palladium’s listing will be used to undertake the Company’s exploration program and fund working capital.
Southern Palladium is engaged in advanced stage platinum group minerals (PGM) exploration and development through its 70% interest in Miracle Upon Miracle Investments (Pty) Ltd (MUM), a private South African company that holds 100% of the preferent prospecting right relating to the Bengwenyama PGM project.
The remaining 30% of MUM is held by Nurinox Investments, a company wholly owned by the Bengwenyama-ya-Maswazi community in the Limpopo Province, South Africa.
“We congratulate Southern Palladium on their listing and look forward to continue working towards the Company’s success together.” said Martinez.
