SVM have said they plan to spin off their other projects into a company called NGX. The market hasn't priced this into the share price yet from my novice view, so I wonder if we are about to get news on how well this is going and potential buyers of these assets? I think funds from this when it comes will help further develop their world class Rutile project. Owning SVM before this will entitle the holder shares in this new company to list on the ASX
"Sovereign to demerge standalone Graphite Projects (being the Nanzeka, Malingunde, Duwi and Mabuwa Projects) into a wholly owned subsidiary, NGX Limited" "NGX is proposing to pursue an ASX listing through an initial public offering of NGX Shares (IPO) pursuant to a prospectus following the completion of the Demerger"
All just my uneducated guess but looking forward to news going forward.
Not investment advice DYOR
Sparky
SVM Price at posting:
53.5¢ Sentiment: Buy Disclosure: Held
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