Alaska Energy Metals Sells Off Mexican Subsidiary, Interest In ASX-Listed Gold Explorer
FULL DISCLOSURE: This is sponsored content for Alaska Energy Metals.
Alaska Energy Metals (TSXV: AEMC) has strengthened its balance sheet after selling off non-core assets. The company has disposed of its Mexican subsidiary, as well as of its interests in an ASX-listed gold explorer.
The firms Mexican subsidiary, Recursos Millrock, has been sold off to Grupo Minero Factor, a private operator based in the Chihuahua region of Mexico. Consideration under the transaction will see Alaska Energy obtain royalties on twelve separate concessions that were previously held by Recursos.
Eleven of the concessions have seen a 1.0% royalty assigned to them, while the twelfth, the Higuerita concession, has seen an 0.5% royalty assigned to it. Higuerita notably contains the El Batamote porphyry copper project. Alaska Energy has suggested that it may sell off such royalties in the future. Additionally, if Grupo Minero elects to drop any of the concessions, they are to be returned to Alaska Energy.
READ: Alaska Energy Metals Reports Over 8 Billion Pounds Nickel Content In New Resource Estimate
As part of the asset disposition strategy, Alaska Energy has also sold off its interests in ASX-listed Felix Gold. The shares, obtained as part of a partial payment for Alaska Energy’s gold projects in the Fairbanks Gold district of Alaska, were sold off for net proceeds of C$350,000.
“We have strategically re-built our asset portfolio to enhance our long-term sustainability and maintain focus on our Nikolai Nickel Project. These sales allow us to realize value for these non-core assets. Alaska Energy Metals owns other gold property assets in Alaska that it may also consider selling,” commented CEO Greg Beischer.
Alaska Energy Metals last traded at $0.15 on the TSX Venture.
FULL DISCLOSURE: Alaska Energy Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Alaska Energy Metals. The author has been compensated to cover Alaska Energy Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
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