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Alexander Mining to divest processing technology unit in business restructure

Alexander Mining PLC said Sept. 25 that following a review of operations, it intends to dispose of its mineral processing technology subsidiary, MetaLeach Ltd., and change its business strategy as it is no longer in shareholders' interests to financially support the unit.

The move will result in the company becoming a cash shell. It aims to complete a suitable reverse takeover within the prescribed six-month period.