03:50 PM EST, 02/25/2025 (MT Newswires) -- Canada's Allied Gold Corp. ( AAUCF ) has started a process to apply for a listing on the New York Stock Exchange, joining an industrywide migration to the world's top bourse, Bloomberg News is reporting Tuesday.

The Toronto-based gold producer was advised that it meets the criteria for a listing in New York and expects a decision on an application in the first half of the year, according to Allied Gold's ( AAUCF ) Chief Executive Officer Peter Marrone. The company trades only on the Toronto Stock Exchange, but would join a long list of gold miners that trade on both Canadian and US exchanges.

Bloomberg noted New York's status as a global hub for gold equities has expanded in recent years after a series of major gold deals transformed the industry and created two North American titans -- Barrick Gold Corp. ( GOLD ) and Newmont Corp. ( NEM ) -- that trade in the US city. The concentration of industry-specific exchange-traded funds has also added to the appeal.

"Canada is a great place to be a mining company, but New York is the king of the mountain in terms of listing seniority," Marrone said in an interview. "That's where we want to be."

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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