PERTH (miningweekly.com) – Junior Jervois Mining has completed the sale of its Bullabulling gold royalty for A$3.1-million in cash to a subsidiary of Zijin Mining, which owns the gold project.
Jervious last year sold the Nyngan and Flemington royalties to Cobalt 27 Capital Corporation, for $4.5-million, at the time choosing to retain its Bullabulling royalty as its most valuable royalty asset.
The company said on Thursday that the funds received from Zinjin has seen Jervois’ balance sheet increase to A$17-million.
The company still retains a 1.5% net smelter royalty over both the Forest Reefs exploration project, in New South Wales, and the Mt Moss mining lease, in Queensland.