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The latest announcement is out from Power Nickel Inc ( (TSE:PNPN) ).
Power Nickel Inc. and Chilean Metals Inc. have completed a strategic spin-out, allowing Power Nickel shareholders to hold stakes in both companies. This reorganization aims to unlock value by enabling Chilean Metals to focus on its Golden Ivan property and Chilean assets while Power Nickel advances its Nisk project. The spin-out provides shareholders with ownership in two specialized companies, enhancing their potential growth and exploration capabilities.
More about Power Nickel Inc
Power Nickel Inc. is a Canadian exploration company focused on developing the Nisk project, a high-grade nickel, copper, PGM, gold, and silver initiative, into what could become Canada’s next polymetallic mine. The company acquired an option to own up to 80% of the Nisk project from Critical Elements Lithium Corp. in 2021. Meanwhile, Chilean Metals Inc., now fully independent following a spin-out from Power Nickel, holds the Golden Ivan property in British Columbia and various mineral projects in Chile.
YTD Price Performance: 24.30%
Average Trading Volume: 461,256
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$261.9M
For a thorough assessment of PNPN stock, go to TipRanks’ Stock Analysis page.
