Barrick Gold has announced it has sold its shares in Perpetua Resources, the company behind the Stibnite gold project in the U.S. state of Idaho.
The sale generated some C$21.7 million (US$17.3 million) in pro-ceeds for Barrick Gold, the miner said in a statement.
“Immediately prior to the Disposition, Barrick had beneficial owner-ship of, or control and direction over, 5,382,587 Shares, representing approximately 8.5% of the issued and outstanding Shares. Following the Disposition, Barrick does not have beneficial ownership of, or con-trol or direction over, any Shares,” Barrick Gold said.
“Barrick effected the Disposition for investment portfolio management purposes. Depending on market conditions and other factors, includ-ing Perpetua Resources’ business and financial condition, Barrick may in future acquire securities of Perpetua Resources or dispose of some or all of the securities of Perpetua Resources that it may own at any such time,” according to the statement.