PERTH (miningweekly.com) – ASX-listed Alkane Resources has completed the demerger of subsidiary Australian Strategic Materials (AMS), announcing on Wednesday the in specie distribution and transfer of shares to eligible shareholders.
Alkane in May this year announced the demerger plans for AMS, which holds the Dubbo rare earths, niobium, zirconium project in New South Wales, and to list the entity on the ASX, saying it would allow Alkane to focus on gold exploration while ASM would focus on critical minerals.
Alkane said on Wednesday that all the listing requirements for ASM had now been met, with the company expected to start share trading on the ASX by July 30.