Hana Mining lists on BSE today

Staff Writer | Wednesday May 23, 2012 00:00

 

The introduction to the BSE is a dual listing of the nearly 100 million shares it already has listed on the Toronto Stock Exchange in Canada. This morning, Hana Mining executives, together with sponsoring broker, Stockbrokers Botswana and BSE officials will officially list the local bourse's newest counter. Hana Mining will be listed on the Foreign Companies' Venture Capital board.

Stockbrokers Botswana head of trading, Kennedy Kgomanyane told Mmegi Business that the dual listing was an opportunity for local investors to participate in the project. He said the listing was also designed to raise Hana Mining's local profile. Kgomanyane said as is common with early stage ventures, the listing would likely attract investors willing to accommodate risk. 'To invest, you must be aware that it's not the normal type of company,' he said.

'It carries a higher risk and it's for those with a higher appetite for risk.' Hana Mining regional manager, Johannes Tsimako said the listing was timed with the progress made in assessing and advancing the Ghanzi copper and silver project.

'As you are aware, we have just finished our preliminary economic assessment which is an indication of the project economies, and it was very positive in terms of development of the mineable resource,' Tsimako told Mmegi Business.

'We have an initial 13 years of open pittable mining and we also have a lot of upside with potential zones which are as economic or even higher, adjacent to our main zone. 'This is a good time for us to indicate that we are going ahead with the project and the developments on the exploration side.'

Tsimako said the Ghanzi project would significantly benefit the local community by transforming the micro-economy from one based on tourism activities to mining. 'For locals, there is going to be a significant upliftment of lives, so that they are not only looking at tourism, but also mining,' he said. Hana Mining has been exploring in Botswana since 2007 and currently controls five prospecting licences covering 2,169 square kilometres situated south of Maun.