Kalamazoo Resources Ltd (ASX:KZR) CEO Luke Reinehr tells Proactive the company is set to spin out its Australian lithium projects into a new ASX-listed exploration company, via a demerger and concurrent initial public offering (IPO) of Kali Metals Ltd (proposed ASX code: KM1). He says the move will allow Kalamazoo to focus on the development of its flagship Ashburton gold project in the Pilbara. The asset has an existing resource of 1.44 million ounces at 2.8g/t gold.
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