PERTH (miningweekly.com) – Metals explorer Minerals 260 has officially listed on the ASX, after completing a A$30-million initial public offering.
Lithium developer Liontown Resources in August this year announce its plans to demerge its non-lithium exploration assets into a separately listed entity known as Minerals 260.
Liontown completed the demerger of Minerals 260 by way of a pro rata in-specie distribution of 160-million fully-paid ordinary shares in Minerals 260. Eligible Liontown shareholders have received 1 Minerals 260 share for every 11.94486 shares held in the company.
Minerals 260 is trading under the ticket MI6, and the company’s shares are trading at 60c each.
Minerals 260 on Tuesday said that it was planning to start a 6 000 m diamond core/reverse circulation drilling campaign later this month at its key projects; the Moora and Koojan joint ventures, in the Julimar mineral province. The initial focus of the drilling would be the Angepena prospect.