Blackstone to spin out noncore gold
PERTH (miningweekly.com) – ASX-listed Blackstone Minerals on Friday announced plans to spin out certain of its noncore gold assets into a newly listed vehicle called Codrus Minerals.
“The Codrus spin-out will see a dedicated management team focused on driving value into Blackstone’s noncore assets. Codrus will provide an excellent platform and catalyst for both growth and monetisation of these assets,” said Blackstone MD Scott Williamson.
He said that the proposed transaction would reiterate Blackstone’s primary focus on its flagship Ta Khoa nickel/copper/platinum project, in Vietnam, and followed on from an ongoing strategy to provide additional benefit to shareholders through maximizing the value from the company’s noncore assets.
Codrus is intended to undertake an initial public offering (IPO), and would seek a listing on the ASX, with Blackstone to retain a 50% interest in the new vehicle, while Blackstone shareholders would be offered a priority allocation in the Codrus IPO.
The IPO is planned for the second quarter of this year, and Codrus is likely to seek a minimum raise of A$5-million.
Codrus’ assets would include the Record mine project, the Silver Swan South project, the Red Gate project and the Middle Creek project, in Western Australia.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation