- Phenom (PHNM) proposes a return to Pure Vanadium Miner with gold spin-out
- This plan would be spun out to Phenom shareholders
- The first part of this transaction would return Phenom to being a dedicated vanadium investment vehicle
- Secondly, the transaction would position SpinCo to operate as an independent company, focusing on advancing gold assets owned by Phenom
- Paul Cowley, President and CEO of Phenom, sat down with Sabrina Cuthbert to discuss the spinout
- Phenom Resources Corp. (PHNM) opened trading at C$0.41
Phenom Resources (PHNM) is evaluating a potential transaction transferring its gold assets into a new Canadian subsidiary.
This plan would then be spun out to Phenom shareholders.
The intent of the transaction consists of two parts. The first would return Phenom to being a dedicated vanadium investment vehicle.
Secondly, the transaction would position SpinCo to operate as an independent company, seeking a separate public listing and would focus on advancing the gold assets currently owned by Phenom.
In the coming weeks, Phenom will provide further details as they become available.
Paul Cowley, President and CEO of Phenom, sat down with Sabrina Cuthbert to discuss the spinout.
“The company intends to focus on resource expansion, engineering and metallurgical studies on our flagship Carlin Vanadium Project in Nevada, as well as other vanadium-related opportunities.”
“Vanadium prices have been rising for the last three months, at US$8.90 per pound V2O5. The company has significant vanadium-related plans to carry out in 2023,” added Cowley.
The company also has significant plans in 2023 for its gold assets.
“While Phenom Resources is still working out the details, structure and timing to effect the proposed spin-out, we feel it’s important to communicate the company’s intended future direction,” concluded Cowley.
Phenom Resources Corp. (PHNM) opened trading at C$0.41.