Buck's comments come after LionOre, which has mining interests at BCL and Tati Nickel in Botswana announced that it would cease being a public company in Australia. Already the company is working on a proposal to establish a share sale facility to its Australian investors.
Buck says the move to de-list comes after slow trading of the company's shares on the ASX.
"Despite LionOre being primary listed in Toronto, it would have had to fully comply with the ASX Listing Rules and this imposes a financial and administrative burden on LionOre," he said.
Meanwhile, Buck parried suggestions that the de-listing on ASX follows P28 billion friendly takeover bid by Xstrata by the world's fourth largest nickel producer.
He said the decision to de-list from the ASX was taken on 26 February, before the proposed takeover by Xstrata.
Xstrata is a major global diversified mining group and has listings on the London and Swiss stock exchanges and based in Switzerland.
"The decision to delist from the ASX was taken on 26 February, before the proposed takeover by Xstrata," assured Buck.
However, some local resources analysts were quoted in the press anticipating that LionOre may in future cease being a public company in Botswana.
If LionOre takeover by Xstrata leads to de-listing on the BSE, it will be a repeat of what happened last year when IAM Gold bought Gallery Gold (GG).
In March 2006, the Federal Court in Australia gave IAM Gold the mandate to acquire GG, which resulted in the de-listing of the gold miner in both the BSE and the Australian Stock Exchanges (ASX). The de-listing of GG by then paved way for the listing of IAM Gold.
LionOre is currently listed on the Toronto Stock Exchange where it has its primary shareholding, London Stock Exchange, ASE and BSE.
