PERTH (miningweekly.com) – ASX-listed junior Gold Road Resources on Thursday confirmed that fellow-listed metals miner Independence Group had acquired a portion of the company’s shares.
Canada-based Minco Silver Corporation sold some 22-million of its shares in Gold Road Resources at a price of 38.5c each to Independence, giving the company a less than 4% shareholding in Gold Road.
Minco had maintained more than 17-million shares in Gold Road, or a 2.9% ownership.
The Independence buy comes just a day after the metals miner denied that it had made firm commitments to expand its footprints, following media speculation that the company was eyeing a takeover of nickel developer Sirius Resources.
Gold Road on Thursday told shareholders that while the company welcomed Independence to its register, Gold Road’s focus would remain on the advancement of its Yamarna gold project, in Western Australia, where a prefeasibility study was scheduled for March next year.