Jindalee Resources hits record high on spinoff plan for Australian assets
12/04/2022 06:02
** Minerals explorer Jindalee Resources JRL.AX rises as
much as 3.7% to their record high of A$4.510
** Announces https://www.jindalee.net/site/PDF/68435810-b8a2-43e6-81ae-68c7600466c6/JindaleerepositioningaspureplayUSlithiumcompany
plan to separate its Australian assets into a new company to be
listed on the Australian stock exchange
** Plan to position JRL as a pure-play U.S. lithium
developer
** Australian assets include iron ore, nickel/gold, lithium,
and magnesite projects
** New company's portfolio to include JRL's landholding in
Widgiemooltha district and Lake Percy project - both highly
prospective for nickel, gold, and lithium
** Adds that demerger is expected to be completed in
September quarter
** JRL set for a third straight gain session; has nearly
doubled this year, as of last close
(Reporting by Sameer Manekar in Bengaluru)
((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))