GOLD producer Resolute Mining has incorporated a new entity subsidiary called Valhalla Uranium in order to spin off its uranium assets. It is proposed that Valhalla will raise about $7 million through an initial public offering, with its shares to be listed on the Australian Stock Exchange. Resolute has joint venture interests in a number of uranium projects it believes are both at an advanced and prospective stage. It has a 50 per cent stake in the Valhalla and Skal uranium deposits near Mt Isa in Queensland and a series of other resources at various stages in the Northern Territory. It will retain a significant holding in Valhalla following the listing and has appointed Patersons Securities to assist it with the process with preparation of a prospectus for the capital raising currently underway. Resolute follows a number of other explorers with prospective uranium holdings who have also realised the benefits of a spin-off.
News
>
27/09/2005 - 22:00
Resolute spin off
27/09/2005 - 22:00
Related Data & Insights
-
-
Rank Company Revenue th Resolute Mining $1,079.4m 604 listed resources wa companies ranked by revenue.
Powered by Morningstar ®
Data & Insights
Mentioned Organisations
Related Articles
21 Mar 2024
Board Moves March 21, 2024
19 Jun 2023
Board Moves June 19, 2023
19 Apr 2022
Board Moves April 19, 2022
16 Nov 2021
John Welborn to chair Fenix
01 Nov 2021
Board Moves November 1, 2021
05 Aug 2021
Resolute locks in $122m Bibiani sale
Subscribe today for award-winning, unbiased and trusted journalism
Subscription OptionsX