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Chakana Copper Closes Its Acquisition of Barrick's Stake in the La Joya Project in Peru

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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%

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