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Tertiary Minerals PLC - Macclesfield, England-based mineral exploration and development company - Sells its royalty interests in the Kaaresselka and Kiekeromaa gold projects in Finland to Aurion Resources Ltd for C$200,000, about £128,000, in cash and 83,333 Aurion shares. Aurion's shares closed at C$0.68 each in Toronto on Friday, making the shares worth around C$56,666 in total.
Executive Chairman Patrick Cheetham comments: ‘The proceeds of the sale will be applied to the company's exploration projects in Nevada, where we are awaiting assay results from trenching at the Brunton Pass copper project, and in Zambia where a successful drilling programme was recently completed at the Jacks copper project.’
‘The company is building an attractive portfolio of exploration projects in Zambia and we are pleased to be generating these additional exploration funds from internal resources,’ Cheetham adds.
Current stock price: 0.14 pence, up 9.2% in London
12-month change: down 49%
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