Forthcoming divestment of N.S.W. assets into the new IPO, page-7

agree with all you've said.

it's a fairly well understood phenomenon that the market finds it hard to value complex businesses, and often spin outs unlock value both for the company that remains and the one that's spun out.

as an example, there may be people that see NSW gold as a distraction and unnecessary drain on $, and they won't be investing in ARL Ni Co until it's spun out.

Sally_Will where did you get the gold grade data from your original post? Is there anything in the public domain yet? I've heard we may have multiple JORC compliant resources in NSW in the spin out