Gold miner Gold Fields, through its Gold Fields Netherlands Services (GF Netherlands) subsidiary, has sold down its stake in Vancouver-based precious metals royalty and streaming company Maverix Metals to 11.65%, the company reported on Tuesday.
The sale was made on May 31 in a private transaction of 5.35-million shares at C$4.20 a share, for a total cash consideration of C$22.47-million.
Before the transaction, GF Netherlands had ownership and control over shares and warrants representing about 16.61% of the shares of Maverix on a nondiluted basis.
On Monday, Maverix closed at C$5.45 a share on the TSX-V.