Alkane Resources' shareholders have approved its demerger from wholly-owned subsidiary Australian Strategic Materials (ASM), which owns the Dubbo Project.
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Board chairman Ian Gandel said more than 99.9 per cent of votes cast at an extraordinary general meeting on Thursday were in favour of the demerger.
ASM may be listed on the Australian Securities Exchange by as early as the end of this month.
After the meeting, ASM managing director David Woodall said it was in a "strong position to develop Dubbo".
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"The demerger, and ASM's imminent listing, come at an opportune time for our business," he said.
"Building on Alkane's long-term commitment to the Dubbo Project, 2020 is shaping up as a landmark year for ASM.
"In the past month alone, we have had some very significant results from the commissioned Korean commercial pilot plant, and we look forward to confirming other positive results from the Dubbo Project key product suite in the coming months.
"This, together with the transformational flotation test work in Australia, places ASM in a strong position to develop Dubbo."
Alkane Resources will become a pure-play Australian gold company.
"Alkane will emerge as a simplified Australian gold company with balance sheet strength, a quality production asset in Tomingley, new discoveries at Roswell and San Antonio, and the opportunity to advance one of Australia's most significant exploration discoveries at Boda into development and future production," managing director Nic Earner said.
The yet-to-be financed Dubbo Project is based on a large in-ground polymetallic resource of zirconium, rare earths, niobium, hafnium, tantalum and yttrium at Toongi, south of Dubbo.
