Capital Gold Tees Up NYSE Listing

New York-based miner Capital Gold, whose assets are in Sonora, Mexico, is planning to list on the NYSE “within the next few months,” says newly appointed president John Brownlie. The company’s stock trades on the TSX and has a market cap of roughly $150m. Brownlie also says the company is finalizing a letter of intent to enter a joint venture with an exploration company that operates in Durango, Mexico. “We would ultimately own the company’s assets,” he adds, saying that full ownership would take a few years. Capital Gold, which Gammon recently pursued unsuccessfully, could also consider offers from other potential acquirers when it achieves its full shareholder value, however, Brownlie indicates his focus is on growing the company. He believes Capital Gold is undervalued compared to peers. While the peers are valued at an average of 1.00x NAV, Capital Gold is valued at 0.60x NAV, says the president.