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Merrex Gold Inc. (TSXV:MXI) announced that it’s planning to divest its non-core assets. The company will hone its focus on its Mali-based Siribaya gold joint venture project in today’s difficult gold price environment.
Merrex Gold Inc. (TSXV:MXI) announced that it’s planning to divest its non-core assets. The company will hone its focus on its Mali-based Siribaya gold joint venture project in today’s difficult gold price environment.
As quoted in the press release:
No specific plan for the asset divesture has been determined nor has any timetable been set. The divesture of assets may be in one or more transactions and may be by way of a sale for cash or shares, an asset swap if a synergistic asset were offered, or a shareholder distribution. Management will take the time necessary to examine and consider all opportunities but also intends to proceed in a timely manner. Updates will be provided as circumstances warrant.
Greg Isenor, president of Merrex, commented:
With the recent announcement of a NI43-101 gold resources totalling 129,000 ounces @ 1.90 g/t Indicated and1,092,000 ounces @ 1.71 g/t Inferred (news release February 6, 2016) at our JV Siribaya gold project in Mali it is evident that future of the Company is there and that the Company must focus all of its available resources to advancing that project. That is where shareholder value will be built. Devoting substantially all of the Company’s available resources to our Mali gold project for the foreseeable future means that the Company’s exploration assets in other jurisdictions will not be advanced and any dormant exploration asset will not deliver any increase in value to shareholders. Therefore, the pragmatic course is to divest those assets
Click here to read the full Merrex Gold Inc. (TSXV:MXI) press release.