Wojtek Woodzicki, President & CEO of NGEx Resources speaks on the company’s intention to split the company into two.
“NGEx holds one of the best undeveloped copper gold resources in the world and it’s definitely one of the best upheld by a junior company. We’re a Lundin Group exploration development company and our main focus is Chile and Argentina, our most advanced project is called Josemaria located in San Juan Province, Argentina. We just finished a pre feasibility study on that project in December and we’ve rolled right into a feasibility study. So, right now we’re doing all of the fieldwork that will feed into the feasibility study that we expect to complete about a year from now. It’s a large copper gold project that would have around a 20 year mine life and produce around one hundred and twenty thousand tons of copper a year and two hundred and thirty thousand ounces of gold. The outlook for copper is extremely strong and we expect to see the market really take a uptick in the next 12 to 15 months. In December we announced our intention to split NGEx into two companies. An explorer company that will hold Los Helados and our exploration projects and then a single purpose vehicle that will focus on development of the Josemaria project. So, two and a half years ago we spun out our Filo Del Sol project into a separate publicly listed company and that was a big dividend for our shareholders. It will give us a chance to do what we’ve been able to do over the last seven or eight years again, hopefully a lot faster this time.” – Wojtek Woodzicki, President & CEO of NGEx Resources
NGEx is a Canadian mineral exploration company with projects in Chile and Argentina. The Company’s shares are listed on the TSX and on Nasdaq Stockholm under the symbol “NGQ”. The Company’s main focus is on advancing the development of its two, large copper/gold deposits, Los Helados and Josemaría, located in Chile’s Region III and adjacent San Juan Province, Argentina. The Company owns a 100% interest in the Josemaría project and is the majority partner and operator for the Los Helados project, which is subject to a Joint Exploration Agreement with its joint exploration partner, Pan Pacific Copper Co. The Company is also actively seeking new exploration projects and carrying out earlier stage exploration on projects with large scale potential.
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