Normally on a split/demerger some cash/seed capital goes with Newco and then a IPO. In our case we would want to retain as much cash as possible in JRL to cover cost of last drilling of 39 holes to be reported in June quarter, the future drilling to be completed by December 2022, updating scoping study and getting as many approvals and environmental studies completed ASAP.
That is a lot of work for a small board that will also sit on Newco so expect it to take until June next year at earliest
Newco may not need a lot of cash to start with unless they are gearing up for a large drilling campaign
When AZL was spun out of HWK the gold company did a small IPO first to SH and then to public for the amount not taken up
All guessing but we will know more in the coming weeks once they start releasing documents
Maybe they should call Newco Blue Sky Mining Ltd
Normally on a split/demerger some cash/seed capital goes with...
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