Rio Grande lists on Canadian Securities Exchange
The Canadian Securities Exchange (CSE) on Monday welcomed Rio Grande Resources to its exchange following a spin-out transaction by Foremost Clean Energy.
The new Vancouver-based exploration company, focused on gold and silver assets, began trading under the symbol RGR.
Rio Grande controls the Winston project in Sierra county, New Mexico, which spans more than 1 200 ha and includes three past-producing gold/silver mines. The company plans to undertake a Phase 1 exploration programme over the next 12 months.
With the spin-out complete, Foremost Clean Energy will now focus on its uranium and lithium projects in Canada.
"This transaction creates a new pure-play precious metals vehicle at a time when gold prices are trading at all-time record highs," said James Black, CSE VP for listings development. "There is a long history of gold mining in Sierra county, and we wish Rio Grande success with its exploration programme there."
Rio Grande CEO Jason Barnard commented: "We are excited to unlock the significant potential of our Winston gold and silver project and thank the CSE for publicly listing Rio Grande Resources. Leveraging our dedicated team, previous successful exploration efforts, and the area's historically high-grade gold and silver deposits, we are confident of executing a successful exploration programme and delivering value to our shareholders."
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