NGEx to spin out South American exploration company
It will spin out its Valle Ancho project into a new company to focus on advancing Lunahuasi and Los Helados.
NGEx Minerals plans to spin out its Valle Ancho copper-gold project into a new company, "Spinco," which will focus on advancing the project while NGEx concentrates on its Lunahuasi and Los Helados properties near the Chile-Argentina border. Shareholders of NGEx will receive 0.2 shares of the new company for each NGEx share held, with a two-thirds majority required for approval at a meeting in the fourth quarter.
This move follows a tradition of NGEx spinning out exploration assets, such as Filo Mining and BHP's acquisition of Josemaria Resources and LunR Royalties.
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