Velocity Minerals Sells Bulgarian Assets for $59M

Velocity Minerals (TSE:VLC) has released an update.

Velocity Minerals Ltd. has struck a deal to sell its Bulgarian assets, including the Rozino gold project and other properties, to Turkish diversified company Türkerler for $59 million. The sale is expected to bring economic benefits to the Ivaylovgrad region of Bulgaria, especially with the upcoming closure of a neighboring mine. Velocity is committed to further exploration and has plans to seek new acquisition opportunities in Europe.

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