Viking opens US trading window as tungsten push accelerates
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Doug Bright
Viking Mines has opened a new US trading line for its shares, and the company is now officially traded on OTC Markets under the ticker symbol VKALF.
OTC, or “over-the-counter,” is a U.S. trading platform that allows broker-dealers to match buyers and sellers outside of major exchanges such as the New York Stock Exchange and Nasdaq.
It is commonplace for local punters that Viking’s main listing remains on the ASX under the DPA and, importantly, the company says it is not issuing any new shares as part of the move.
The new offering will make life easier for North American retail and institutional traders looking to gain exposure to Viking’s Nevada-based Linka tungsten project.
‘We look forward to beginning US investor participation to grow the company’s profile and attract new shareholders.’
Julian Woodcock, managing director and chief executive of Viking Mines
For Viking, this could mean greater visibility, improved accessibility and potentially stronger liquidity as a larger pool of tungsten followers backs the shares in its local currency and time zone.
The new market access does not seem entirely accidental. Just 11 days ago, Viking outlined an accelerated Linka workflow to quickly push the project down the value chain.
The company’s roadmap includes a series of parallel workflows covering metallurgy, geophysics and three-dimensional modelling, as well as early-stage work involving advanced ore sorting and processing technologies. Viking is also taking a closer look at mineralized historical stocks and tailings materials as potential low hanging fruit for a quick restart.
Viking Mines managing director and chief executive Julian Woodcock said:: “Listing on the OTC Markets provides access to the significant US investment market and naturally complements our tungsten operations in Nevada. While our primary listing remains on the ASX, publishing all announcements on the OTC platform ensures we are recognized as a critical mineral developer, while tungsten remains highly valued.”
Viking is conducting a June drilling campaign at the field and will soon submit a Notice of Intent to the U.S. Bureau of Land Management. The company is also exploring opportunities to achieve cleaner flotation results on the near-term radar as it looks to optimize recovery while maintaining marketable concentrate qualities.
While accelerated workflow is seen as critical to ensuring cash flow arrives sooner rather than later, Viking is also leaning into the bigger, longer-term picture. With tungsten prices continuing to rise and ammonium paratungstate priced at US$3,150 (A$4,480) per metric tonne, the company is touting Linka as a strategically located critical mining site in a Tier 1 mining jurisdiction.
Management says the OTC listing expands its global shareholder base by removing barriers for US-based bookmakers, while keeping disclosure standards in line with ASX reporting.
With a US commercial presence already in place and a steady stream of technical milestones, Viking looks poised for an active quarter as it prepares to release hardware on Linka and get its first real answers directly from drilling.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
