DNS Minerals Incorporated In Talks With Investment Banks Regarding Potential Listing
DNS Minerals Incorporated has requested investment banks submit their proposals to handle a potential initial public offering, moving a step closer to realising the long anticipated listing. The mining and exploration company has invited approximately 12 banks to pitch to handle a possible float, people close to the situation said.
DNS Minerals Incorporated has been considering possibly listing since late 2016. The company has consistently made clear that it continues to explore the possibility, including in comments from management during a conference call in February 2017. A company spokesperson said the timing of any public listing would depend on bureaucratic approvals and market conditions.
A flotation of the Canadian business could provide funds for additional research into potential mine locations, as well as aiding exploration and extraction of existing projects.
The DNS Minerals move comes amid huge expectations in relation to the value of silver futures in 2017. With macro-economic conditions relating to both Brexit and Donald Trump being in charge of the world’s largest economy, precious metal futures are headed for record-breaking gains in 2017 and beyond.
The DNS Minerals spokesman went on to say that no advisers had yet been mandated for an public offering but a leading hedge fund has been a long-time adviser to the company.
Two sources familiar with the situation said that DNS was considering the flotation, with one adding it would be “mad not to” given the current multiples that are available in IPOs to companies with precious metal extraction capabilities.
DNS Minerals last week filled a vacant spot on its management team by naming a former director of a leading Swiss banking institution as its chief financial officer (CFO). In December of last year DNS published a recruitment advert for a CFO in which it said “the possibility of a new listing would be an experience we welcome”.