Endeavour Mining soon to list on the LSE

Canada's Endeavor Mining (TSX: EDV), West Africa's most important gold producer, is said to be considering whether to aim for a double listing in London or New York in the course of its merger with smaller rival Semafo. "We'll switch to one or the other," Chief Executive Officer Sébastien de Montessus told FT.com. "We are currently examining which is the most relevant and attractive given our portfolio and our locations as well as the suitability in terms of corporate governance and liquidity," said Sébastien de Montessus. Endeavor's management team is already based in London, so a preference for the UK listing would come as no surprise. The London Stock Exchange lost its main gold company last year when Randgold Resources went out of business after being taken over by Barrick Gold. Endeavor's share price rose more than 60% from March, when the company announced the acquisition of Semafo, to early July, when it completed the transaction. With a market capitalization of C $ 5.3 billion (about $ 4 billion), the mining company would be among the most valuable precious metals companies currently listed on the LSE. These include the Russian duo Polyus (LON: PLZL) and Polymetal International (LON: POLY), the Mexican company Fresnillo (LON: FRES) and the Canadian company Yamana Gold (LON: 0P6G), all of which have a market value of more than 4, Have $ 5 billion. Endeavor Mining last week confirmed its expectation of producing more than one million ounces of gold this year. After including the Semafo operations in its second quarter financial and operating results, the company announced that it plans to produce between 995,000 and 1,095,000 million ounces of the precious metal in 2020, with cost targets of $ 865 to $ 915 per ounce total should be adhered to.