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Barrick Gold sells 10% of Central America junior

Kitco News

(Kitco News) - Barrick Gold (NYSE: GOLD, TSX: ABX) cashed in on a junior explorer.

The mining giant announced Tuesday that is made nearly $4.29 million after selling its 10% stake or 22 million shares in Royal Road Minerals (TSX.V: RYR).

Barrick said that it sold its shares in a pre-arranged trade at $0.19 per share.

“Barrick completed the disposition in order to monetize its investment in Royal Road,” the miner said in a press release. “As a result of the disposition, Barrick does not have beneficial ownership of, or control or direction over, any ordinary shares.”

Although Royal Road has very little trading volume, the company has seen its share price rise from $0.075 at the start of the year to its current price of $0.205, a gain of more than 173%.

Royal Road is current developing projects in Nicaragua and Columbia.

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