Make Kitco Your Homepage

Swiss commodities group Blackstone Resources debuts on Swiss exchange

Kitco News

ZURICH, July 9 (Reuters) - Swiss commodities company Blackstone Resources completed its listing on the Swiss Six Exchange on Monday, debuting with a share price of 13.5 Swiss francs per share.

The commodities holding and trading company listed 42.7 million bearer shares to broaden its shareholder base and enable it to raise money for future acquisitions in the battery metal market, it said in a statement last week announcing its plans to list.

Blackstone Resources, based in the Swiss town of Baar, reported a net profit of 3.8 million Swiss francs ($3.85 million) in 2017. It operates nine companies, and employs around 45 people.

Founded in 1995, Blackstone Resources builds, develops and manages production facilities in Peru, Colombia, Canada, Norway and Mongolia.

It concentrates on the production of battery metals like cobalt, manganese, molybdenum, lithium, graphite, copper and nickel, as well as gold and silver production.

Blackstone Resources, which also has offices in Mongolia and Peru, according to its website, intends to significantly expand its strategic investments and operations across all these areas, the company said when the listing was announced. ($1 = 0.9877 Swiss francs)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News

Alice in Wonderland