Osisko Development (TSXV: ODV) announced on Friday that it has disposed of a number of Minera Alamos (TSXV: MAI) common shares. The transaction was reported to have grossed a total of $18.5 million in proceeds.
The gold firm disposed of a total of 34.29 million common shares it held on Minera Alamos, at a price ranging from $0.50 to $0.57 per share. From owning 17.1% equity, the firm now only holds 9.4% ownership of Minera Alamos shares.
The move is said to be pursuant to “market dispositions performed from October 25, 2021, to December 29, 2021.”
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Minera Alamos president Doug Ramshaw said in a tweet that he’s “happy to move on with this in our [rearview] mirror,” and seemingly took a jab at the firm by suggesting the transaction’s proceeds could’ve financed 1-2 mines.
In November 2021, Minera Alamos poured the first gold at its Santana mine in Mexico, five months after it began operations at the site.
Osisko Developments last traded at $4.18 while Minera Alamos last traded at $0.55 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
