Mariana Resources to seek listing on TSX Venture exchange

(MENAFN- ProactiveInvestors - N.America) Aim-listed exploration and development company Mariana Resources Ltd (LON:MARL) is to seek a listing on the TSX Venture Exchange.

The mining company will keep its current Aim listing. The company expects to be listed on the TSX in two or three months' time.

"Mariana believes that the decision to dual list the company comes at an opportune time as the market begins to show positive signs specifically in relation to gold. The high grade Hot Maden gold-copper development project in Turkey and the Argentine gold portfolio is becoming increasingly attractive to North American investors' said Mariana's chief executive officer Glen Parsons.

Parsons added that the company's visibility had grown significantly over the last two years and it now had a stronger institutional following particularly from Canada and the US.

'This interest will play a role in ensuring Mariana's ability to move its portfolio forward in an efficient manner. Given this increasingly stronger following Mariana believes creating a platform to facilitate the ability to trade on an accessible exchange for North Americans is a priority' Parsons said.

"The dual listing will also give Mariana access to a wider capital pool for future fund raising as markets continue to improve. Mariana is familiar with the TSX exchanges and commitment to this market will be fully supported' Parsons said.

'The shares are currently slightly down on the c.2p-2.5/share of the summer of 2015 despite exciting results from the 30%-owned Hot Maden project in Turkey. We believe this to be attributable to the company's lack of control over the project and need to fund its share of cash-calls in order to retain its participation hampering Mariana's ability to raise funds' said Yuen Low an analyst at Shore Capital Markets.

---ADDS BROKER COMMENT---