Dateline debuts on OTCQB market in US push for rare earth spotlight
ASX-listed Dateline Resources has been cleared for take-off in the United States, after it secured approval to upgrade its US listing to the OTCQB Venture Market as American interest heats up in its flagship Colosseum rare earths and gold project in California.
From today, the company's shares will trade under the ticker DTREF. The OTCQB Venture Market is an uplist for Dateline from the more speculative over-the-counter Pink Open Market. The upgrade means American investors can trade the stock in local currency during US market hours.
Notably, the move won't saddle Dateline with any new compliance burdens, as its ASX reporting standards already meet OTCQB requirements under US foreign issuer exemptions.
The OTC market now lists more than 12,400 companies in total - a 30 per cent jump in the past seven years - offering everything from global giants to speculative startups on one platform. The market is divided into three tiers, each with its own standards and scrutiny.
At the top sits the OTCQX, home to about 400 blue-chip companies from regions including Europe, Canada and Brazil. These firms must meet high financial standards, have independent governance, host annual shareholder meetings and undergo strict audits.
The OTCQB Venture Market sits on the next rung down and has about 900 early-stage companies trading on it. While not yet eligible for OTCQX or major exchanges, OTCQB companies must still meet minimum bid prices, maintain current financial reporting and pass annual verification.
The Pink Open Market is the broadest and least regulated tier and hosts more than 11,000 listings, including distressed firms and those not current in their filings.
Management says the OTCQB listing is a perfect fit for Dateline's push to grow its North American investor base and tap into surging US interest in the company and the rare earths sector in general.
With its shares now easier to trade, more liquid and far more visible, the company is putting itself front and centre in a market rapidly waking up to the urgency of securing its own rare earths supply.
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