Junior miner Aguia Resources Ltd., Sydney, Australia, said on Sept. 2 it has decided to delist from the Toronto Stock Exchange (TSX). The company said the delist will reduce costs and duplication associated with a dual listing. An Australian company, Aguia is also listed on the Australian Stock Exchange (ASX). The final date of TSX trading will be the close of business Sept. 16, 2019.
Aguia said the Board of Directors wishes to reduce unnecessary cost to concentrate expense where it adds value to shareholders, namely in the development of its phosphate assets and via drilling as they explore the company’s copper assets. Aguia’s key projects are located in Rio Grande do Sul in Brazil, where it said phosphate deposits exhibit high-quality and low-cost production characteristics, and are ideally located with proximity to road, rail, and port infrastructure.