Aurania Divests Peruvian Subsidiary to Palamina Corp

Aurania Resources (TSE:ARU) has released an update.

Aurania Resources Ltd. has agreed to sell its Peruvian subsidiary, Sociedad Minera Vicus Exploraciones S.A.C., to Palamina Corp. in exchange for 350,000 Palamina shares and a 1% Net Smelter Return royalty on certain Peruvian mining claims. Aurania retains the option to liquidate half of the NSR for $1 million, allowing them to maintain an indirect stake in the project as they focus on their primary ventures in Ecuador and France.

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