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Jersey continues to show appeal for growing mining and natural resources companies

Date
13 May 2015

Jersey is continuing to prove an attractive jurisdiction for supporting the growth strategies of international mining and natural resources companies through listing on stock exchanges around the world. 

At the end of last month (20th April) Royal Road Minerals became the latest Jersey-based natural resources company to be listed on an international exchange as it commenced trading on the TSX Venture Exchange in Canada. The move, which followed the company's rebrand from Tigris Resources on 10th April to the new name that more accurately reflects its expanding areas of interest within Turkey, was undertaken in order to enable the company to access more investor capital, grow, and ramp up its exploration work.

Royal Road, which has its headquarters in Jersey, is a gold and copper-focused exploration and development company with a strong track record and current projects in western and southeast Turkey. It is led by Dr Tim Coughlin, who was part of the team that founded Lydian International, aided by Peter Mullens, Chairman and non-executive Director, both of whom have more than 25 years' experience in the mining and exploration industry.

The listing of Royal Road is the latest development bolstering Jersey's reputation as a centre for the operations of international mining companies, which was underlined earlier this year when it was announced that the number of mining, natural resources and related businesses setting up a corporate operation in the island had broken through the 20 barrier, including the recent arrival of environmental consultancy business Digby Wells, creating additional job opportunities for local staff.

Commenting on Royal Road's recent listing and the firm's presence in Jersey, Dr Tim Coughlin, CEO, Royal Road, commented:

"Jersey provides an ideal base for Royal Road thanks to its straightforward regulatory regime and no-nonsense approach to business support. In addition, the island sits squarely between the time zone of our market in Toronto and that of our operating region in Eastern Europe. Since settling on the island we have become familiar with the many other business-friendly benefits that Jersey offers, including regular direct flight connections into London and easy access to our European-based investors, whilst Jersey's status as a well-regarded international financial centre means experienced and often multilingual support staff and financial professionals are readily available."

Jersey's Economic Development Minister, Senator Lyndon Farnham said:

"The mining and natural resources sector offers Jersey businesses exciting prospects and the potential we realised some years ago is now coming to fruition. Firms are becoming increasingly embedded in the local community, contributing to the local economy, employing local people and establishing a genuine platform of substance that can, by drawing on Jersey's specialist corporate and financial services expertise, provide them with a springboard for further growth."

Wayne Gallichan, Director, Inward Investment, Locate Jersey, added:

"To see a firm in Royal Road that has its roots firmly in Jersey and that was a pioneer in Jersey's mining sector undergo a significant re-brand and position itself strongly in the international markets for further expansion from its Jersey base is very gratifying indeed. Mining executives continue to be impressed by the financial and wider business expertise Jersey has to offer and, as the increase in recent relocations shows, we are finding that Jersey increasingly fits the bill as a credible jurisdiction to locate the headquarters of ambitious companies in the sector."