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Wednesday, 28 August 2013
Energizer Resources starts trading on OTCQX
Energizer Resources' (OTCQX:ENZR)(TSE:EGZ) shares have started to trade on the OTC Markets Group's OTCQX board, as a means to give the graphite development company greater visibility in the U.S.
The company's symbol on the U.S. stock market index will be ENZR. It also trades on the Toronto Stock Exchange under the symbol EGZ, and the Frankfurt Stock Exchange as YE5.
The OTCQX is home to more than 370 Canadian, U.S., and global companies such as Roche, Adidas, Volkswagen andBombardier. Energizer said Wednesday it remains the only publicly-traded graphite company on the TSX.
"Our elevation to the OTCQX will provide Energizer with greater visibility in the U.S. market, and facilitate more timely news and information to assist our U.S. investor base when analyzing and trading our shares," said president and COO of the company, Craig Scherba.
Earlier this month, the company announced stand-out results from the Toronto-based miner’s flagship Molo flake graphite deposit in Madagascar, with ongoing metallurgical optimization tests showing the larger graphite flake sizes that command premium selling prices. The latest results from the Phase 1 Molo process optimization testing at SGS Canada yielded results far superior to the graphite flake size distributions reported in February’s Preliminary Economic Assessment (PEA) Study.
Energizer late last year unveiled an NI 43-101 resource estimate for Molo, which ranks the deposit as one of the largest in the world. The deposit located near Fotadrevo in the southern region of Madagascar is held 100 per cent within the joint venture entity with Malagasy Minerals Limited. Energizer has a 75 per cent ownership interest and is the operator of the project.
With completion of the full feasibility study targeted for the fourth quarter of this year, the start of mine construction is expected in the third quarter of 2014, and production is anticipated in the fourth quarter of 2015 at an output capacity of 84,000 tonnes per annum.