Kalamazoo Resources Ltd. listed its shares on the Frankfurt Stock Exchange under the code KR1 following high levels of inquiries from Europe about its gold projects in Victoria, Australia, following Kirkland Lake Gold Ltd.'s success at Fosterville in that state, which has triggered a "gold rush."
"The advice we are receiving is that the Germans in particular are bullish about gold, and we consider that the European interest will be for both [our] Victorian gold projects and the Pilbara assets [in Western Australia]," Kalamazoo Executive Chairman and CEO Luke Reinehr said in an Oct. 25 email.
Kalamazoo noted in an Oct. 18 statement to the ASX that the Frankfurt Stock Exchange is the world's third-largest exchange trading market, behind the NYSE and Nasdaq. More than 50% of the total trades on the Frankfurt Stock Exchange are conducted through investors in countries outside of Germany, Kalamazoo said.
Reinehr said Kalamazoo has had "significant European inquiry" about its Victorian gold projects, particularly given the global notoriety Kirkland Lake has received with its success at Fosterville, which had a record performance in the third quarter.
Since the Frankfurt listing announcement, Kalamazoo has outlined plans to kick off a 10,000-meter diamond drilling program at its Castlemaine gold project in Victoria, whose goldfield has produced 5.6 million ounces of gold historically.
Reinehr had told S&P Global Market Intelligence that his company is applying modern geophysics to look for high-grade mineralization at depth, just as Kirkland Lake did in finding Fosterville, which is 45 kilometers northeast of Kalamazoo's tenements.
While Kalamazoo also has interests in the DOM's Hill, Marble Bar, Cork Tree and Sisters projects in Western Australia, Reinehr focused his Oct. 24 presentation at the Gold & Alternative Investments Conference in Sydney on the Victorian projects.
Reinehr said in an interview that there was a "real focus" at the conference on the "new Victorian gold rush, coming off the fantastic Fosterville story."
Europe's retail market, family offices and financial institutions are likely to invest at various stages as Kalamazoo's investment story develops, Reinehr said, which was particularly timely as the company also released news Oct. 23 regarding its geophysical surveys and upcoming drill program.
Reinehr said Kalamazoo is focused on "finding another Fosterville" and detailed to delegates an exploration program including advanced studies with the Australian government's chief science body, 3D structural geology modeling, geophysics and geochemistry, and the 10,000-meter drill campaign.
Kalamazoo's Oct. 23 statement revealed that ground-based geophysical surveys completed over its top 10 high-priority exploration prospects within the EL6679 permit, expected to be the focus of drilling, had identified potentially gold mineralized structures for follow-up diamond drill testing.