Eminence Minerals (ASX:EMA) has completed its divestment of the Alturas Antimony Project to Maxus Mining (CSE:MAXM), following the full exercise of the option agreement.
Under the terms of the agreement, Eminence has received C$300,000 ($314,662) in cash (previously received) and C$400,000 in fully paid ordinary shares in Maxus.
The transaction is part of Eminence’s streamlining of its portfolio and divestment of non-core assets.
The company will retain exposure to upside in antimony through its shareholding in Maxus.
CEO Anthony Hills says that the company is pleased to have successfully negotiated this agreement.
“The receipt of the full consideration, including the fully paid ordinary shares in Maxus now strengthens our balance sheet and allows the company to sharpen its strategic focus on advancing its core assets.”
Eminence Minerals is focused on a diversified portfolio of projects in Brazil and Australia.
Write to Amy Rotman at Mining.com.au
Images: Eminence Minerals
