Oceana Gold has lodged a preliminary prospectus with the Australian Stock Exchange for a proposed listing on the Toronto Stock Exchange.

Oceana Gold proposes to create a new Canadian company, OceanGold, and apply to list it on the Toronto Stock Exchange.

Oceana Gold will maintain a primary listing on the Toronto Stock Exchange and secondary listings on the Australian Stock Exchange and the New Zealand Stock Exchange.

The company also plans to raise $100m, which would cover the balance of the funding required to buils the Didipio project in the Philippines, and to consolidate its issued capital on a 1 for 5 basis.

An Oceana Gold shareholder meeting has been scheduled for June 8. If the scheme is approved, OceanGold expects to be trading on the Toronto Stock Exchange by the end of June.