Vancouver — Jaguar Nickel (JNI-T, JGNKF-O) is shifting its focus from mineral exploration to merchant banking and says it hopes to create value for shareholders by making investments in undervalued companies.
The move comes about two months after the firm began to review strategic alternatives following the election of a new board of directors, headed by Vic Alboini, the chairman and CEO of Northern Financial, Jaguar’s largest shareholder.
“Given management’s track record in merchant banking, the change in focus of the company to a merchant bank is designed to take advantage of that track record for the benefit of Jaguar shareholders,” Alboini says.
Two months ago, Jaguar terminated its exploration alliance with BHP Billiton (bhp-n, blt-l) for the exploration and development of nickel properties in North America.
The company could change its name to Jaguar Financial.
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