Highland Copper to sell 34% White Pine North stake | Metals Mine

  • Highland Copper to sell 34% White Pine North stake

    From miningweekly.com

    Canadian junior Highland Copper has signed a binding offer with joint venture partner Kinterra Copper to sell its 34% interest in the White Pine North project in Michigan for about $30-million, as the company pivots towards its fully permitted Copperwood project. The transaction would generate $18.3-million in cash, after deducting the outstanding principal and accrued interest on a loan provided by Kinterra to the company’s subsidiary, Upper Peninsula Copper Holdings. That loan balance is expected to total about $11.7-million at closing. The parties have also agreed to suspend cash calls under the White Pine joint ... (full story)

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