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.