The share price of mining investment fund Pallinghurst leapt in Johannesburg after the company outlined its plans to exchange its investment fund status for a diversified miner’s mantle, unlock value through full absorption of its coloured gemstone associate company and target a possible listing of the enlarged but greatly simplified Pallinghurst on the main board of the London Stock Exchange, without any change to its primary JSE listing. “We’re converting Pallinghurst into a diversified, ever-green company and we’re taking the assets of Gemfields in-house,” Pallinghurst CEO Arne Frandsen explained to Creamer Media’s Mining Weekly Online in an interview, which took place as the company’s share price leapt 5.43% to 350 c a share.
