Chakana Copper (PERU.V) on Monday said it closed the acquisition of Barrick Mining's (ABX.TO, B) interest in the La Joya Project in Peru.
Barrick has become a shareholder of Chakana, joining Gold Fields and EMR Capital, it said. Chakana issued 4.1-million shares to Barrick, giving it an 8% stake in the company as consideration for the acquisition. Barrick will also retain a 2% net smelter royalty.
The company said it is now positioned to "aggressively" follow up on the favorable results obtained during the 2024 scout drilling programs at both the Mega-Gold and La Joya HSE targets.
Shares of the company were last seen up $0.005 to $0.15 on the TSX Venture Exchange.
Price: $0.15, Change: $+0.01, Percent Change: +3.45%