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The latest update is out from Wolfden Resources ( (TSE:WLF) ).
Wolfden Resources has completed the sale of a 3,770-acre timberland parcel in Maine for $2.1 million, providing non-dilutive financing to support its operations. The company retains exploration and buy-back rights for mineral interests on the sold land for five years. Additionally, Altius Royalty Corporation has amended its royalty agreement with Wolfden, forfeiting timber and carbon rights on the sold land, while retaining rights on remaining lands and holding an option to convert a portion of its investment into Wolfden’s common shares. This transaction is a strategic move to secure financing while maintaining future exploration potential, impacting Wolfden’s financial positioning and partnership dynamics.
More about Wolfden Resources
Wolfden Resources Corporation is a North American exploration and development company specializing in high-margin metallic mineral deposits, including precious, base, and strategic metals. The company owns two nickel sulphide deposits in Manitoba and one of the highest-grade polymetallic projects in the USA, focusing on developing domestic sources of ethically produced base and critical metals in North America.
YTD Price Performance: -11.67%
Average Trading Volume: 82,445
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: C$8.24M
See more data about WLF stock on TipRanks’ Stock Analysis page.
