News

July 08, 2008

Silver Mines Takes A Dual Listing On Plus To Put Its Promising Australian Projects Under The Microscope At Both Ends Of The World

By Charles Wyatt

Silver Mines Ltd is the first company to tread the path from a listing on the ASX to a dual listing on PLUS markets in London. Others will surely follow. At first sight Silver Mines Ltd may look on the small side, but it has big ambitions. One of them, according to Charles Straw, chief executive of the company, is to bring the area around the old Webbs silver mine project into early production. Another is to gain exposure to investors in London as Australia offers few peers that focus on silver. A third is to get the company into a position to be able to acquire suitable projects outside Australia.

The board is a mixture of old and young. Charles’s father David is a director and it was he who introduced the idea of a dual listing in order to expand the potential of the company. That idea was swiftly taken up by chairman David Sutton who has had a career in stockbroking. David Straw has been around the mining game for many a year and has been involved in most metals and minerals all around the world. Importantly, he has experience of financing development and taking a project through to...