TNG Limited
(ASX:TNG) has announced it will seek re-approval from shareholders for the demerger of its non-core portfolio of zinc, copper and base metals.
The company had received approval for the spin-off in May of last year however the approval was only valid for 6 months.
TNG subsidiary Todd River Resources intends to undertake an IPO and seek an ASX listing in conjunction with the spin-off.
TNG has indicated that once the demerger is completed, Todd River Resources will have one of the largest base metal exploration footprints in the Northern Territory.
TNG Limited reported a net loss of $3.5 million at 31 December 2015.
