Sparton Resources Inc. (TSXV:SRI) announced that their 85% owned subsidiary company, Lincang Linxiang 306 Huajun Coal Industry Co. Ltd. has sold of all of its germanium production assets in the Lincang area of China.

As quoted in the press release:

60% of the purchase price or RMB8.16 million (approximately C$1.3 million) is to be paid within 7 days of Xinyuan’s board of directors approving the transaction, and the remaining 40% or RMB5.44 million (approximately C$0.86 million) is to be paid within 7 days of finalization of the transfers of the Huajun mining licence and related operating permits from Huajun to Xinyuan.

To view the whole press release, click here.