Nord Pacific goes Canadian

Aiming to increase its exposure to Canadian equity markets, U.S.-based Nord Pacific (NPF-T) has changed its corporate domicile to New Brunswick from Bermuda.

Shareholders have already approved the change of domicile, which redefines Nord Pacific shares as Canadian property and allows Canadian investment funds to hold them without restriction. Chief Executive Officer Pierce Carson said the new domicile will “enhance the company’s exposure to the investment community in Canada [and] should result in more thorough analyst coverage and market recognition.”

Nord Pacific recently announced that a feasibility study on its Simberi Island gold project in Papua New Guinea had returned positive results. Simberi has a resource of 29 million tonnes grading 1.6 grams gold per tonne. This includes a measured and indicated resource of 10.7 million tonnes of oxide material with an average grade of 1.25 grams per tonne.

Results of feasibility studies on two other projects — Tritton Copper in New South Wales, and Ramu on mainland New Guinea — are scheduled to be released shortly.

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