Gold miner plans dual listing in London for Romanian expansion

A MINER seeking to tap Romania’s vast gold deposits is planning a dual-listing on London’s main market.

Canada-listed Euro Sun Mining will today announce its intention to float as it progresses its wholly owned Rovina Valley project.

It said it was one of the largest undeveloped projects in Europe, covering a 27sq km area in a historic mining district of central Romania.

ESM wants to get the $400m (£288m) project up and running by 2024, with potential production of 106,000 ounces of gold and 19m pounds of copper each year for the first decade. Concentrate will be sold to European smelters.

The listing will raise the company’s profile with UK and European investors, the company said. It is not planning to raise additional capital alongside the listing. Led

by chief executive Scott

Moore, ESM is valued at about C$68m (£40m) on the Toronto stock exchange.

The company has been awarded exploitation per- mits and said it did not plan to use cyanide during pro- cessing, lowering its environmental impact.

Mr Moore said: “There is a

short supply of copper and gold produced within Europe and ESM is well placed to help fill it.

“Once in production, we expect to be one of the most efficient and environmen- tally responsible producers of gold and copper not only in Europe but globally.”