Orosur Mining Inc (AIM:OMI, TSX-V:OMI) told investors that Newmont Corporation (NYSE:NEM, TSX:NGT, ASX:NEM, ETR:NMM) has now sold off its shareholding in the company, as part of a wider disposal strategy by the North American gold miner.
Newmont sold its 9.40% holding to several institutional long-term investors, fetching C$0.19 per share.
"Whilst we are sad to see Newmont go, we understand that the sale of the stake is part of Newmont's strategy of non-core disposals,” executive chair Louis Castro said.
“Newmont has been a loyal and supportive partner to Orosur.
“We part on good terms and we welcome a number of strong and knowledgeable long-term investors as we push further into an exciting growth phase for the company.
“Their investment is testament to the potential of the projects we are developing"
In London, Orosur Mining shares were up 5.88% changing hands at 11.25p.