Dubbo demerger forges ahead

The share price of ASX-listed Alkane Resources rose by nearly 11% on Wednesday as plans to progress the demerger of its subsidiary Australian Strategic Materials (ASM) progressed.

Alkane on Wednesday said that the company’s board has resolved to progress the demerger of ASM, which holds the Dubbo rare earths, niobium zirconium project in New South Wales, and to list the entity on the ASX.