Strickland Metals: Receives heritage clearance at Iroquois as demerger advances

Strickland Metals Receives heritage clearance at Iroquois as demerger advances

• Strickland Metals (STK) receives heritage clearance for drilling at its Iroquois project in Western Australia ahead of a demerger
• The clearance will enable drilling over both the project and a number of surrounding prospects, upon completion of an IPO of STK’s spin-out company, DemergerCo
• Both the Iroquois and Byrah Basin projects are proposed to be spun out, the process of which CEO Andrew Bray says is “well advanced”
• The proposal remains subject to approvals and, if received, STK expects the IPO to be complete in the current half-year
• Company shares are up 2.5 per cent trading at 4.1 cents at 2:40 pm AEDT