VR Resources (TSE:VRR) has released an update.
VR Resources Ltd. has finalized a deal to sell its Hecla-Kilmer rare earth element property to Neotech Metals Corp. for $3.6 million, comprising both cash and shares. The sale will finance VR’s upcoming drilling activities at the New Boston copper project in Nevada, while maintaining investment in Hecla-Kilmer through royalty rights and a significant shareholding in Neotech. This strategic move bolsters VR Resources’ focus on copper exploration without diluting current shareholder value.
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