Vancouver-based copper/gold explorer and developer NGEx Resources has announced that it will spin out its Los Helados project, in Chile, into a wholly-owned subsidiary, Spinco, to allow it to focus on the more advanced Josemaría project, in Argentina, which is now advancing to the feasibility study stage.
The arrangement, NGEx said on Wednesday, was designed to deliver greater value to shareholders and would allow the company and Spinco increased flexibility to advance their respective assets without unnecessary dilution to the other.