TSX/ASX-listed gold mining company Endeavour Mining has sold its entire 38.5% shareholding stake in TSX-listed Namibia Rare Earths for a cash proceed of US$5.3 million for 30 million shares at CA$0.18 per share.

Marla Gale, Endeavour Mining‘s vice president of investor relations, explained to Miningne.ws the reason behind the transaction. “It was a non-core holding (we are a gold company) and we had been looking to sell it for some time. As we are in a strong internal growth push this year, building one mine and expanding another to add cash to the balance sheet is beneficial.”

Additional Reading?

Request Free Copy