11:03 AM EDT, 09/05/2025 (MT Newswires) -- Aldebaran Resources ( ADBRF ) said Friday it will transfer its projects in Salta, Jujuy and Catamarca provinces of Argentina into a new Canadian subsidiary, while focusing on its Altar copper-gold project in San Juan.

The subsidiary will be led by Sam Leung as chief executive. Leung has served as a director of AbraSilver Resource (ABRA.TO) since 2019. The new company plans a private financing to fund its 2025/2026 field program and is expected to seek a public listing.

Projects to be advanced include Rio Grande in Salta and Aguas Calientes in Jujuy, Aldebaran said.

"We believe that the proposed reorganization will unlock additional value for Aldebaran shareholders by creating a new company that will actively advance a promising portfolio of exploration projects within Aldebaran that have been on hold for the past several years while Aldebaran was advancing its flagship Altar copper gold project," said John Black, Aldebaran chief executive.

"This reorganization will allow Aldebaran shareholders to continue to have the same exposure to the Altar copper-gold project, while also receiving shares in SpinCo in 2026."

Aldebaran added that the preliminary economic assessment for Altar has been delayed until the fourth quarter.

Shares of the company are up $0.02, to $2.39, on the Toronto Stock Exchange.

Price: 2.39, Change: +0.02, Percent Change: +0.84