Jindalee Resources Limited (ASX:JRL) proposed to spin off Australian Assets on April 12, 2022. Post completion, Australian assets will be operate as a stand alone entity which will be listed on Australian Stock Exchange. Eligible Jindalee shareholders will be entitled to receive a pro rata distribution (on a basis to be determined) of New Company shares at the record date. The New Company (Dynamic Metals Limited) will be led by current Jindalee Chief Executive Officer Karen Wellman, who will be appointed as Managing Director. The remainder of the New Company board will comprise Justin Mannolini (Non-executive Chairman), Lindsay Dudfield (Non-executive Director) and Trish Farr (Executive Director and Company Secretary). The transaction is subject to final board, regulatory and shareholder approvals. As of January 13, 2023, Jindalee Resources shareholders has approved the transaction. The Demerger is expected to be completed in the September quarter of 2022. Jindalee has appointed Hamilton Locke Pty Ltd as legal advisor in connection with the Demerger.

Jindalee Resources Limited (ASX:JRL) completed the spin off of Australian Assets on January 13, 2023.