trending Market Intelligence /marketintelligence/en/news-insights/trending/aiEi5B0GaMjInV3dpZWsag2 content esgSubNav
In This List

TNG's demerger of Australian base metals projects back on agenda

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Podcast

Energy Evolution | Looking ahead to the energy transition in 2023

Video

Path to Net-Zero: How are mining companies tracking?

Blog

The Big Picture for 2023: Will Economies See Relief from Knock-on Effects of Russia-Ukraine Conflict?


TNG's demerger of Australian base metals projects back on agenda

TNGLtd. is revisiting its previously planned spinoff of its base metals projectsin Australia's Northern Territory.

The ASX-listed explorer said July 25 that it will soonconvene a shareholder meeting to re-approve the demerger.

Shareholders initially approved the spinoff of the noncorebase metals assets via an in-specie distribution of shares in wholly ownedsubsidiary Todd River ResourcesLtd. in mid-May 2015, but weak market conditions forced TNG toshelve the plan.

A pick-up in market conditions this year has prompted TNG toseek re-approval for the move.

Todd River Resources will raise capital to fund explorationand development of the Northern Territory projects via an initial public offerand will seek to be listed on the ASX.