Business
ASX rises; iron ore extends retreat; bitcoin rebounds – Markets – The Australian Financial Review
Australian shares have risen at the open; tech stocks rally in New York; iron ore resets below $US200/t; bitcoin rebounds. Follow the latest here.
Metals X has signed a binding term sheet with NICO Resources for the sale and spin-off of its nickel assets, allowing its current shareholders to retain an interest in the assets through the initial public offering of NICO.
The terms sheet provides for the sale of all of the shares in Metals Exploration, currently a 100 per cent owned subsidiary of Metals X, to NICO with eligible Metals X shareholders to receive a direct holding in NICO shares so as to spin out the nickel assets from Metals X.
NICO…
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