Northwire Canada EditionThursday, October 15, 2026
Sign inSubscribe
Northwire
⌕
GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4% GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4%
M&A / Property Routine +

NGEx Minerals Files Notice of Special Meeting and Information Circular for Proposed Spin-Out of the Valle Ancho Project

NGEx spins out the Valle Ancho project to Valiente Resources to unlock shareholder value.

By The Northwire Desk — AI Analysis Oct 02, 2026 · 17:30 NGEX · 25.35 NGEx Minerals Ltd.
Executive Summary

NGEx Minerals Ltd. filed a Notice of Special Meeting and Information Circular to seek shareholder approval for the proposed spin-out of its Valle Ancho Project. The transaction involves distributing common shares of Valiente Resources Inc., currently a wholly-owned subsidiary, to NGEx shareholders. Under the proposed exchange ratio, each NGEx shareholder receives one new NGEx share and one-fifth of a Valiente share for each NGEx share held.

A NI 43-101 Technical Report for the Valle Ancho Copper-Gold Project has been filed, and Valiente has applied for listing on the TSX Venture Exchange. The special meeting is scheduled for October 29, 2026, requiring 66⅔% approval. The final court order hearing is set for November 4, 2026, with anticipated completion in Q4 2026.

Material Impact

NGEx Minerals Ltd. (NGEX) issued a procedural follow-up to its August 6, 2026 announcement regarding the spin-out of the Valle Ancho Project. The release confirms the transaction structure, share exchange ratio, and timeline, aligning with previous expectations.

The spin-out creates a new South America-focused exploration vehicle under the Lundin Group, allowing NGEx to retain its more advanced Lunahuasi and Los Helados projects. The transaction is a routine corporate restructuring aimed at unlocking value by separating early-stage exploration assets from advanced development projects. No new financial or operational surprises are introduced, and the market impact is expected to be neutral to slightly positive as it clarifies the path to value realization for the separated asset.

NGEX · Price
Company Overview

NGEx Minerals Ltd. is a South America-focused exploration and development company. Its flagship project is Lunahuasi, a 100% owned deposit in San Juan, Argentina, which features multiple mineralization styles including high-sulphidation systems, porphyry mineralization, and ultra-high-grade gold quartz veins.

Recent progress at Lunahuasi includes the completion of Phase 4 drilling, comprising 27,318m across 32 holes. The company reported positive preliminary metallurgical results showing strong recoveries and effective arsenic removal, alongside environmental approval for an exploration adit.

The company also holds interests in other assets, including Los Helados in Chile, where it holds a ~69.1% interest in partnership with Lundin Mining, and Valle Ancho, a district-scale copper-gold exploration project spanning Argentina and Chile that is currently being spun out.

Read the original news release →

More from NGEx Minerals Ltd.

Oct 13, 2026 · 17:00

NGEx’s spin-out vote advances the Valle Ancho separation, unlocking value for shareholders through the strategic divestment of the asset.

M&A / Property Sep 15, 2026 · 06:00

Metallurgical tests confirm high recoveries and effective arsenic removal for NGEx.

Technical Study Aug 06, 2026 · 19:30

NGEx’s Phase 4 Lunahuasi drill program yielded no new assays, while the Valle Ancho spin-out aims to streamline the company’s portfolio.

Drill Results Aug 06, 2026 · 18:00

NGEx Minerals to Spin-Out Valle Ancho Project to Shareholders Creating New South America Focused Lundin Group Exploration Vehicle

M&A / Property Jul 30, 2026 · 06:00

NGEx reports multiple high-grade massive sulphide intercepts extending the Mars and Saturn deposits at its Lunahuasi project in the phase 4 finale.

Drill Results Jul 08, 2026 · 09:00

NGEx’s Lunahuasi Phase 4 drilling extended the Saturn zone by 573m, confirming high-grade continuity.

Drill Results