Dual listed Western Areas NL (ASX:WSA, TSE:WSA) has applied to delist from the Toronto Stock Exchange (TSX), claiming the costs in maintaining the listing are no longer justifiable.
Following the TSX delisting, expected to be at the end of August, the nickel miner will continue to trade on the Australian Securities Exchange.
Western Areas says it has made the decision to leave the TSX because of limited trading volume since its dual listing in 2005 and the low level of share ownership in Canada.
Delisting is not expected to affect its exploration or corporate activities in Canada in the short term.
Western Areas will release its full 2012 financial results next week. In the first half of the 2012 financial year Western Areas’ net profit fell 64 per cent to $24.1 million.
