The Prospector News

Alexandria Minerals Announces Agreement to Sell Non-Core Assets to Hudbay

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Alexandria Minerals Announces Agreement to Sell Non-Core Assets to Hudbay

 

 

 

 

 

Alexandria Minerals Corporation (TSX-V:AZX) is pleased to announce that it has entered into a purchase agreement with Hudbay Minerals Inc. to sell the HUDVAM and WIM properties which are comprised of 40 mineral claims currently owned by Alexandria and located in northern Manitoba near the mining communities of Snow Lake and Flin-Flon.  The Company will receive $500,000 in cash upon completion of the transaction.

 

The sale of the Claims also includes all exploration data and technical information associated with the Claims in the possession of the Company, and any other hard assets located on the property underlying the Claims.  The Company acquired the Claims following the acquisition of Murgor Resources Inc. by the Company in 2015.  Prior to entering into the Agreement, the Company completed a thorough process in connection with the disposition of the Claims and the agreement with Hudbay was determined to be the only alternative.   Alexandria and Hudbay are at arm’s length.  No finder’s fees were paid in connection with the transaction.

 

The sale is expected to close immediately upon receiving the necessary confirmation of transfer of the Claims by the Manitoba Mines Branch.

           

About Alexandria Minerals Corporation

 

Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with strategic properties located in the world-class mining districts of Val d’Or, Quebec, Red Lake, Ontario and Snow Lake-Flin Flon, Manitoba. Alexandria’s focus is on its flagship property, the large Cadillac Break Property package in Val d’Or, which hosts important, near-surface, gold resources along the prolific, gold-producing Cadillac Break, all of which have significant growth potential.

 

Posted November 2, 2018

Share this news article

MORE or "UNCATEGORIZED"


Koryx Copper Closes Non-Brokered Private Placement and Completes Share Consolidation

Koryx Copper Inc. (TSX-V: KRY) is pleased to announce that it has... READ MORE

June 17, 2024

First Mining Closes Upsized $7 Million Flow-Through Equity Financing

First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG)... READ MORE

June 17, 2024

Cornish Metals Announces Sale of Nickel King Property

Cornish Metals Inc. (TSX-V: CUSN) (AIM:CUSN) is pleased to announ... READ MORE

June 17, 2024

McEwen Mining Announces Closing of Flow-Through Financing

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report it... READ MORE

June 14, 2024

FRONTIER LITHIUM INTERSECTS 136.7M OF 1.32% Li2O AND EXTENDS SPARK PEGMATITE

Frontier Lithium Inc. (TSX-V: FL) (FRA: HL2) (OTCQX: LITOF) is pl... READ MORE

June 14, 2024

Copyright 2024 The Prospector News