Apella Resources Inc (TSX-V: APA, FSE: NWN) told investors that it is currently seeking a US Exchange listing on the OTC-QX market to complement its existing listing on the Toronto Venture Exchange. Apella plans to use the quality controlled OTC-QX listing platform to offer US investors transparent trading, superior information, and easy access through its regulated US broker-dealers.
The OTC-QX is the premium tier of the American over-the-counter market, which is tailored to the needs of non-US companies who want to maximize their visibility in the US. According to Apella, the new listing will provide greater visibility of existing company information to a broader US audience and the listing process separates out companies that are worthy of investor consideration from the rest of the OTC market.
The OTC-QX marketplace is fully electronic and investors can trade through all major online and full-service brokerage firms in the US. OTC-QX trades are settled and cleared in the US similar to NASDAQ or NYSE security and trade reports are disseminated through Yahoo, Bloomberg, Reuters and most other financial data providers.
Furthermore, Apella has secured Berenbaum Weinshienk, a long established and respected legal firm as Apella's Principal American Liaison (PAL). The PAL will provide Apella with valuable advice on US Capital Markets.
Non-US listings on OTC-QX include Air France KLM, BASF, adidas Group, Walmart Mexico, United Colors of Benetton, PSA Peugeot Citroen, to name a few. Several highly respected Canadian mining companies, peers of Apella, are also listed on the exchange.
Apella has portfolio of world class vanadium-titanium-iron projects, located in the Canadian province of Quebec.
The company released the inital two batches of results from its Phase II drill program at the Iron-T project this week and last, and is moving towards a maiden resource at Iron-T.
Highlights were aplenty, but Apella noted some particularly good intercepts, including 44.87 Meters @ 44.63% Fe2O3(“Iron”), 9.39% TiO2(“Titanium”), and 0.57% V2O5(“Vanadium”); 28.28 meters @ 52.14% Iron, 10.62% Titanium, and 0.82% Vanadium; 33.44 meters @ 39.80% Iron, 7.45% Titanium, and 0.58% Vanadium; 15.60 meters @48.09% Iron, 9.26% Titanium, and 0.72% Vanadium; and 109.10 meters @ 29.25% Iron, 4.47% Titanium, and 0.36% Vanadium.
The results emanated from four drill holes which extended the mineralized zone by more than 500 meters. Three of the holes were drilling on a north-south line to ‘test and confirm a thickening of the strong magnetic anomaly’ which the company said would be ‘very important’ when it defines the perimeter of any potentially mineable resource.
Patrick O’Brien, Chairman of Apella said earlier this week, “We have now proven that the Iron-T hosts mineralization in quantity and quality. Apella’s geological team has advised management that it plans to produce and submit to management an updated 43-101 compliant report on the Iron-T within the next couple of weeks and at that time determine and provide management with an initial inferred resource figure for the Iron-T based on the 24 holes of diamond drilling to date.”
The junior exploration and development company is also awaiting the results from a recently completed magnetometer survey completed over the eastern and western extension of the project. Iron-T is still open in both of those directions, and at depth.
Disclosure: The author holds no positions in the company