Alexandria Minerals (AZX.V) will be adding C$500,000 in cash to its treasury when it closes the sale of some properties in Manitoba to HudBay Minerals (HBM, HBM.TO). The HUDVAM and WIM properties were originally acquired in 2015 as part of the acquisition of TSX-V listed Murgor Resources, but they were deemed to be a non-core property for Alexandria.
As HudBay already has a significant presence in Manitoba (although tis 777 mine is running out of ore in about two years), it made sense for Alexandria to monetize the properties and half a million dollar goes a long way in the current market.
Go to Alexandria’s website
The author has no position in Alexandria Minerals or HudBay Minerals. Please read the disclaimer
