".....Consequently, the Company formally advises that it now intends to take steps to seek approval to separate its gold and remaining base metals assets. The demerger would require shareholder and other regulatory approvals and subject to further accounting and taxation advice will potentially be effected by a scheme of arrangement demerger process.
The intent is that a shareholder of Metals X at the completion of the separation of the gold unit will own equal interests in shares of both entities.
Further, it is intended that a complete separation of the gold and base metals assets is effected with no cross-holdings between the two companies..."
MLX Price at posting:
$1.70 Sentiment: None Disclosure: Not Held
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