The White Gold district in the Yukon. Credit: White Gold Corp.
Kinross Gold (TSX: K, NYSE: KGC) has divested its entire equity stake in White Gold (TSXV: WGO) with the sale of approximately 23.68 million shares, or 12% of those outstanding.
The shares were sold at a price of C$0.29 each, for total proceeds of nearly C$6.87 million.
White Gold traded at $0.38 apiece in Toronto at the time of the Kinross’ share sale announcement last Friday.
The stock has since dropped another C$0.01 to C$0.37, giving the Canadian gold junior a market capitalization of C$74.1 million.
White Gold currently holds a large portfolio of exploration projects in Yukon Territory. The projects cover approximately 3,150 sq. km or 40% of the prolific White Gold mining district.
Its flagship project, also called White Gold, hosts four deposits with a combined indicated resource of 17.7 million tonnes grading 2.12 grams per…
