Azure Minerals sells off non-core Mexican projects

THE BOURSE WHISPERER: Azure Minerals (ASX: AZS) has sold two of its Mexican projects – the Estacion Llano and San Juan projects, located in the state of Sonora, Mexico.

The proceeds from the sale of the two properties are US$100,000.

Azure Minerals said the sale of the two non-core projects is in line with the company’s strategy of gaining value from its projects.


Project location plan. Source: Company announcement


The company also said it would continue to seek new opportunities in Mexico through the acquisition of projects, which it considers to have potential and are suitable to joint venture to major corporations or where it can use its own exploration expertise to quickly add value.

“We’re pleased to have been able to sell two of our non-core assets, thereby gaining value from projects that would otherwise have continued to remain inactive,” Azure Minerals managing director Tony Rovira said in the company’s announcement to the Australian Securities Exchange.

“Although we consider both of these properties to have some potential, they were unlikely to receive attention while we focus our energies on very high value projects such as the high grade copper-gold-silver Promontorio project.”