Ann: Lodgement of Prospectus for Gold and Base Metal Assets, page-13

Don't understand why you don't like the idea of getting free shares in a new IPO while keeping your ZNC shares. It doesn't matter which set of assets is spun out or kept in ZNC, the idea is to separate them to allow the market to value them independently. ZNC itself was a spin out (one of about 6 or 7? in 5 years) done by Giralia in the mid 2000s. ZNC directors (SM) have done this over and over and it has always been great for holders. The lithium remains in ZNC and fully funded by EVM JV so no need for extra dilution there