Exploration companies are engaging in a mass-exodus from Canada, which could have a serious impact on the dominance of exchanges like the Toronto Stock Exchange (TSX).
The departure has been effected due to the breakdown of the sector’s traditional model, which involved prospectors attracting investors before being acquired themselves by established producers. Now this model is under strain, according to a Bloomberg report.
Industry consolidation has reduced head offices and listings, making it harder for companies to attract investors. In the past nine months, Lithium Argentina (NYSE: LAR) (FRA: ZV5), Solaris Resources (TSE: SLS) (NYSEAMERICAN: SLSR), and Falcon Energy Materials (CVE: FLCN) (OTCMKTS: SRGMF) have moved their headquarters from Canada.
The report said Cornish Metals (OTCMKTS: SBWFF) (CVE: CUSN) and Almonty Industries (OTCMKTS: ALMTF) (TSE: ALL) plan to make similar moves.
Barrick Gold (TSE: ABX) (NYSE: GOLD), the…
