Nickel sulphide exploration company Blackstone Minerals has embraced the growing interest of North American investors by listing on the OTCQX stock market.

Blackstone Minerals (ASX:BSX) has broadened its shareholder base by listing its shares on the OTCQX Best Market in the US under the trading ticker OTCQX:BLSTF.

The OTCQX market is the highest tier over-the-counter market for stocks in the US.

“Blackstone will continue to target the North American investor market, from which we are seeing growing enthusiasm for our integrated upstream and downstream processing strategy to produce green nickel products for the electric vehicle and lithium-ion battery industry,” Managing Director, Scott Williamson, said.

The ASX company’s shares have been trading on OTCQB, a sister market to the OTCQX, in the US since December and it has taken the opportunity to upgrade to the larger market.

Blackstone Minerals’ share price rose 48 per cent to 81 cents in the US OTCQC’s Tuesday trading session and its market value on the US market is $US176m ($227.50m).

The OTCQX has 11,000 US and global securities trading on its over-the-counter market.

Exacting business standards for OTCQX listing

Eligible companies need to meet high financial standards, follow the best corporate governance, demonstrate compliance with US securities laws, and be up to date in their disclosure of relevant information to the market.

“We are pleased to be trading on the OTCQX shortly after commencing trading on the OTCQB, this means we are now trading on the highest level of OTC markets,” said Williamson.

There are three distinct advantages to a company listing on the OTCQX market.

Firstly, trades and settlements are in US currency. Secondly, trading takes place in the North American time zone. Thirdly, the OTCQX share class is the same as the ASX ordinary share class and is not a synthetic derivative. Shares are simply registered in two jurisdictions.

Blackstone Minerals said its US share listing will further enhance its visibility and accessibility to North American investors.

The company’s primary share listing will remain the ASX market in Australia.

Blackstone Minerals continues to advance its Ta Khoa nickel-copper-platinum group elements project in Vietnam, 160km west of Hanoi, for Asia’s growing lithium-ion battery sector.

Blackstone Minerals’ Ta Khoa nickel sulphide project is in north Vietnam.


This article was developed in collaboration with Blackstone Minerals, a Stockhead advertiser at the time of publishing.  

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.