RE: New!! IPO Spin-off Announced !!!This is the presentation on PKG's projects, which can be viewed at this link ...https://www.newguineagold.ca/Kanon0207/s31.html#btn
NGG owns 6 drill rigs, so the 43-101 can be rapidly developed.
Question....how much funds will be generated net to NGG, and how many rigs will NGG deploy under contract to PKG ?
I am assuming that PKG will have the same capital structure as NGG.
If that is the case, in excess of $30 million will acrrue to NGG for its initial equity interest in PKG, at the stated price of $0.40 per share. This adds about $0.20 to our net asset value.....an excellent example of a spin-off unlocking hidden value.
Note also that a second IPO spin-off is scheduled for later this year ( Copper/Moly )...