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Gold opens NSX Alternative Investment Board

The Namibian Stock Exchange has launched the Alternative Investment Board (AIX) in another effort to develop and deepen the local capital market.
The AIX was launched last week Friday (05 July) with the listing of Canada-based junior gold exploration company, Giyani Gold.
NSX CEO Tiaan Bazuin told the Economist this week that the new board, like the Over the Counter (OTC) Market launched earlier in the year with the listing of Agra, was another step in the exchange’s efforts to develop and deepen Namibia’s capital markets.
He said the Alternative Investment Board was there to facilitate listings for a company with no local asset status in Namibia.
Bazuin said: “The NSX has created the Alternative Investment Board for companies interested in coming to Namibia to explore business opportunities. We view listing locally as the best way to open the books and inform the market what a company is doing and how it is performing. Once a company has appropriate economic activity in Namibia, their listing could move to the Main Board or the Development Capital Board with the accompanying local asset status. We are excited about Giyani Gold listing on the NSX and see it as a very positive development.”
Giyani Gold has no mining or Exploration Prospecting Licence (EPL) in the country. Its activities are currently focused on gold exploration in the Giyani Greenstone Belt in Limpopo, South Africa, an area with historic gold production at shallow depths which the company says have not been extensively mined.
“While there are no active mines in the area, there are at least five past-producing mines where the company is currently conducting exploration. Giyani Gold has applied for prospecting rights over a large area within the Giyani Greenstone Belt, where 25 past-producing mines once operated, and owns stakes in various companies with prospecting rights in the area,” the company said when it listed on the NSX.
Speaking at the listing, local businessman Knowledge Katti, who is also the Vice President of Giyani Gold said the listing is a welcome opportunity. He said the listing creates another avenue for Namibian investors to invest in a dynamic company with potential for further shareholder value.
“The shareholder value that will be created through the listing on the NSX will contribute in many ways to local economic development, creation of jobs and further investments in the Namibian economy,” Katti said.
The launch of the AIX Board comes shortly after the Namibia Stock Exchange introduced the OTC Market in February which saw 110,821 Agra shares changing hands for the first time at a price of N$1.70 per share through a deal sponsored by pointBreak.

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