viewMinera Alamos Inc

Minera Alamos brings in over C$1.5 million from sale of Prime Mining shares

The group disposed of 3 million shares of Prime for gross proceeds of C$1,500,300 and also sold 3,350,000 warrants for gross proceeds of C$167,500

Minera Alamos Inc -
The group now has a 5.2% stake in Prime Mining, down from 10.3%

Minera Alamos Inc (CVE:MAI) has brought in over C$1.5 million gross after the sale of shares and warrants in Prime Mining Corp.

The gold mine developer said it had disposed of 3 million shares of Prime for gross proceeds of C$1,500,300 and also sold 3,350,000 warrants for gross proceeds of C$167,500.

READ: Minera Alamos hails latest drill assays from Santana gold project, which extends mineralization south-southwest

Following the sale, Minera owns 3,090,000 Prime shares, or a 5.2% stake. Previously, it held 10.3% of the capital, it said in a brief statement.

The firm added that, at the moment, it does not intend to further change its holdings in Prime Mining.

Minera Alamos has assets in Mexico, including the La Fortuna open-pit gold project in Durango - positive PEA completed and change of land use permit granted - and the Santana open-pit heap-leach development project in Sonora - permits received and construction currently underway.

On April 30, the company reported encouraging drill assays from its Santana gold project, where it expects to resume mine building activity on or around May 18 this year.

Minera said the work was a success and continues to extend known mineralization to the south-southwest while showing the potential of the Nicho pipe system.

Contact the author at giles@proactiveinvestors.com

Quick facts: Minera Alamos Inc

Price: 0.69 CAD

Market: TSX-V
Market Cap: $299.62 m

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