Cornish Metals offloads Canadian royalty interests
Cornish Metals Inc NPV (DI)
6.20p
16:55 09/09/24
-2.36%
-0.15p
Cornish Metals announced the successful sale of its royalty interests on the Mactung and Cantung tungsten projects in Northern Canada on Monday, to Elemental Altus Royalties.
FTSE AIM All-Share
746.73
17:14 09/09/24
n/a
n/a
The AIM-traded firm said the total cash consideration for the sale was $4.5m, with the company having already received an initial payment of $3m.
It said the remaining balance of $1.5m was expected by 1 August.
Cornish Metals said it was continuing to focus on advancing its wholly-owned South Crofty tin project in Cornwall.
At 1109 BST, shares in Cornish Metals were up 0.36% at 5.52p.
Reporting by Josh White for Sharecast.com.