Business
Proposed Demerger and Listing of Aclara on TSX
Proposed Demerger and Listing of Aclara on TSX.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4495P\n Hochschild Mining PLC\n 19 October 2021\n \n \n \n \n \n \n \n \n \n \n _____________________________________________________________________________________\n \n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE IN BREACH OF APPLICABLE LAWS.\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.\n \n \n \n \n \n For immediate release\n \n \n \n \n \n 19 October 2021 \n \n \n \n \n \n Proposed Demerger and Listing of Aclara Resources Inc. on the TSX\n \n \n \n \n \n Changes to Hochschild Mining's Board of Directors and Senior Management\n \n \n \n \n \n \n \n \n Hochschild Mining PLC (\"Hochschild\" or \"the Company\") (LSE: HOC) (OTCQX: HCHDF) is pleased to announce its intention to demerge shares representing 80% of the entire issued share capital of Aclara Resources Inc. (\"Aclara\"), its indirect wholly-owned subsidiary. As well as demerging Aclara from the group (the \"Demerger\"),\n Aclara will seek to have listed on the Toronto Stock Exchange (\"TSX\") its entire issued share capital (the \"Aclara Shares\"). The Demerger is expected to be completed by year-end. \n \n \n \n \n \n Aclara is a development-stage rare earth mineral resources company with a strategic land package of mineral concessions in Chile. Aclara is initiating the development of its resources through a project called the Penco Module (\"Penco\"), formerly known as Biolantanidos, which covers a surface area of approximately 600 hectares and contains ionic clays that are rich in rare earth elements (\"REE\"). Aclara is currently focused on the development and on the future construction and operation of Penco, which will aim to produce a rare earth concentrate through a processing plant that will be fed by clays from nearby deposits.\n \n \n \n \n \n Following the Demerger, Hochschild Mining Holdings Limited (\"HM Holdings\") (a wholly-owned subsidiary of the Company) will retain 20% of the Aclara Shares.\n \n \n \n \n \n In connection with the Demerge...