PERTH (miningweekly.com) – ASX-listed junior Black Mountain Resources has divested of its noncore US silver assets, in a bid to focus its attention on its Namakara vermiculite mine, in Uganda.
The company on Monday reported that it had divested of its 70% stake in two prospective US silver mines in Montana and Idaho, in a deal struck with Texas Energy Advisors, worth A$70 000.
“With the significant opportunities we’re witnessing in the global vermiculite and phosphate markets, the board took the view that it is best to deploy our capital and management’s time and effort into scaling up development, manufacturing and production at Namekara,” said Black Mountain interim CEO Bronwyn Barnes.
“This is what we are doing now.”