PERTH (miningweekly.com) – Copper miner Sandfire Resources has increased its stake in TSX-V-listed Tintina Resources from 36% to 57%.
The additional shareholding, comprising 47.2-million shares, was acquired through an offmarket transaction priced at C$3.9-million.
Sandfire MD Karl Simich said on Thursday that the company’s investment in Tintina was consistent with its corporate strategy and advancing high-quality growth opportunities worldwide, which complemented its DeGrussa copper/gold mine, in Western Australia.
Tintina is developing the Black Butte copper project, in the US. The project covers about 12 000 acres and hosts a number of copper/cobalt/silver deposits