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An update from Glorious Creation Ltd. ( (TSE:MEC) ) is now available.
Mustang Energy Corp. has announced an arrangement agreement to spin off its Ford Lake, Roughrider South, and Cigar Lake East projects into a separate entity, Allied Strategic Resource Corp. This strategic move will allow Allied to focus on the development of the Ford Lake Property, enhancing its value independently and potentially accelerating its development. Mustang will retain interests in other projects, with a strategic emphasis on the Yellowstone property. The spin-off is expected to unlock additional value for Mustang’s shareholders by allowing the properties to be valued independently.
More about Glorious Creation Ltd.
Average Trading Volume: 144,710
Technical Sentiment Signal: Sell
Current Market Cap: C$10.22M
Learn more about MEC stock on TipRanks’ Stock Analysis page.