Barrick Gold has sold its 70% interest in the Pinson Mine in the US state of Nevada to Atna Resources.
Atna paid Barrick $15m and issued Barrick 15 million common shares to buy the interest in the mine which is located in the Humboldt County of Nevada.
The company also granted Barrick a 10% net profits royalty which will be triggered after the first 120,000 ounces of gold are produced from the property, and in addition, the companies each received certain property interests.
The companies have also signed a non-exclusive agreement allowing for the processing of Pinson Mine ore at Barrick’s Goldstrike processing facilities.
Barrick now owns 15 million common shares of Atna, representing about 12.8% of Atna’s issued and outstanding common shares.