What's happened?
Blackstone announced today that its application to join the US-based OTCQB Market has been accepted and the company’s shares are now traded under the code of OTCQB:BLSTF.
Trading on OTCQB will enhance the visibility and accessibility of the Company to North American individual and institutional investors which is an exciting new investment pool many times larger than the Australian market.
Significant interest shown by North American investors
In the announcement, the Company indicated that this is an important step following the significant interest shown by North American investors after Blackstone’s recent Scoping Study, announcing annual production of ~12.7ktpa Ni over 8.5 years project life generating a pre‐tax NPV8% of ~US$665m and 45% IRR with a capital payback period of 2.5 years at US$8/lb Ni (Refer to ASX announcement from 14 October 2020).
Key advantages
Three key advantages for North American investors are:
- Trades and settlements are in US Dollars (USD);
- Trading in the North American time zone; and
- The OTCQB share is the same class of Ordinary Share to ASX traded stock (ASX: BSX), not a synthetic. The share registry is still maintained by Automic Group in conjunction with a US Transfer Agent.
Blackstone’s primary listing will continue to be the ASX with shares now tradeable on the OTCQB market (www.otcmarkets.com).
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