Resources sector investor Aorere Resources Ltd (NZX: AOR) continues to offer itself as a listing vehicle in New Zealand.
The company’s share price is still threadbare at 0.1 of a cent.
The market contraction, particularly for resource companies in NZ, saw the company suggest several months ago that it was an ideal vehicle, and a cheaper route, for a company looking at an IPO.
In the half year report for the six months to September the company said it holds a stake in two companies that still have promising prospects “and we are very focused on widening the portfolio if sufficiently attractive investment opportunities are identified.”
“In such circumstances we would likely seek further capital from shareholders.
“As advised earlier, our other key asset is the NZX main board listing status enjoyed by Aorere Resources – these listings are expensive to achieve via an IPO process.
Managing director Chris Castle said acquisition of a listing such as Aorere offers a path to market that can be an attractive alternative to private companies seeking to join the NZX.
Aorere’s two major shareholdings are in Chatham Rock Phosphate Ltd (TSX-V: NZP; NZAX: CRP) and the Canadian venture exchange listed Asian Minerals.