17 Jul 2012

Chatham Phosphate looking to list in Canada

7:06 am on 17 July 2012

Chatham Rock Phosphate says listing on a stock exchange in Canada should raise its profile among investors, and help its development plans.

The company, which is developing a project to mine phosphate at sea 450km east of Wellington, wants to list on the Toronto Stock Exchange's secondary board, alongside its New Zealand listing.

Trading in Chatham Rock stock tends to be light in New Zealand.

Managing director Chris Castle says liquidity will undoubtedly improve if it lists in Canada, because there are about 19 fertiliser companies there, with half in development like it is.

He says the cost of listing is relatively modest because it's not seeking to raise money. Listing is expected to take three to four months.