- NGEx Minerals (TSX:NGEX) received final approval from the Supreme Court of British Columbia for the previously announced spin-out of the net smelter return royalties on its Lunahuasi and Los Helados projects
- NGEx is a Canadian copper, gold and silver exploration company active in Chile and Argentina
- NGEx stock has added 124.25 per cent year-over-year and 3,928.57 per cent since 2020
NGEx Minerals (TSX:NGEX) received final approval from the Supreme Court of British Columbia for the previously announced spin-out of the net smelter return royalties on its Lunahuasi and Los Helados projects.
This content has been prepared as part of a partnership with NGEx Minerals Ltd., and is intended for informational purposes only.
The spin-out, to be known as LunR Royalties Corp., will hold a 1 per cent royalty on the Lunahuasi copper-gold-silver project in Argentina, which has yielded the highest grades ever encountered in the mineral-rich Vicuña District housing Lundin’s large-scale Caserones mine, Josemaria deposit and Filo del Sol deposit.
LunR will also own a 2 per cent royalty on NGEx’s nearby 69-per-cent-owned Los Helados project in Chile, which stands as one of the largest undeveloped copper-gold resources in the world. Resources are estimated at:
- 18.4 billion pounds of copper, 10.2 million ounces of gold and 97.5 million ounces of silver indicated.
- 8.2 billion pounds of copper, 3.6 million ounces of gold and 50.2 million ounces of silver inferred.
The spin-out received shareholder approval on September 12 and is slated to close in Q4 2025, with investors expected to receive 0.25 LunR Royalty shares for each NGEx share held, though an effective cut-off date to participate has yet to be determined.
NGEx will retain a 19.9 per cent interest in LunR upon closing.
About NGEx Minerals
NGEx is a Canadian copper, gold and silver exploration company active in Chile and Argentina.
NGEx Minerals stock (TSX:NGEX) is up by 0.22 per cent trading at C$22.56 as of 9:32 am ET. The stock has added 124.25 per cent year-over-year and 3,928.57 per cent since 2020.
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