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    copper investing

    NGEx Announces Intention to Spin-Out Josemaria Project

    Scott Tibballs
    Dec. 13, 2018 09:08AM PST
    Base Metals Investing

    The company said it believed that NGEx shareholders would benefit from having the project in a stand alone vehicle which can then be fast-tracked towards a feasibility study and further development.

    NGEx Resources (TSX:NGQ) has announced its intention to spin-out its 100-percent owned Josemaría project located in San Juan province, Argentina, into a standalone public company.

    President and CEO of NGEx, Wojtek Wodzicki said:

    “Given the positive results of the recent pre-feasibility study of the Josemaría project, which demonstrated robust economics, we believe that NGEx shareholders would benefit from having the project in a stand alone vehicle which can then be fast-tracked towards a feasibility study and further development, without diluting the company’s interest in its other assets, including the Los Helados project.  In 2016, NGEx successfully spun-out its Filo del Sol project in a similar fashion and we hope to repeat that success with Josemaría and, if the spin-out transaction is completed, the newly formed company would be well positioned to deliver a construction ready project into what many analysts anticipate will be a strong copper market.”

    Click here to read the full NGEx Resources (TSX:NGQ) press release.

    argentinatsx:ngqjosemaríacopper investingngex resources
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