WGX + MDI + AME?, page-15

from the quarterly - 30/4/21

'Demerger of Barkly copper-gold assets
As per ASX release of 9 March 2021 the Board resolved to demerge Barkly Operations Pty Ltd (BOPL)
(Demerger) and ultimately IPO BOPL on the ASX (IPO), subject to shareholder approval at a Middle Island
Shareholder Meeting. BOPL, a wholly owned subsidiary of Middle Island, is the holder of the Barkly coppergold project (Barkly) in the NT (refer below for further details).
Following the disappointing feasibility result, views of various stakeholders were canvassed as to the
spinout. Whilst a final decision is yet to be made, it is likely at this stage the spinout will be pursued. It is
anticipated Eligible Shareholders of MDI will receive free shares in BOPL in the same proportions as their
respective holding in Middle Island, as well as priority entitlement to apply for shares in the future Barkly
IPO. Further information will be provided in the upcoming Notice of Meeting.
No assurance at this stage can be made in relation to the likelihood of BOPL making application to list or,
if made, such application being successful.
It is anticipated that the Notice of Meeting, containing relevant information for Middle Island shareholders
and the resolutions to be considered at the Shareholder Meeting, will be lodged with ASIC by latest midMay.'

I will hang around a few weeks and see what happens, I am certainly not sure the spin off will go ahead either