Barrick Gold Corp. sold its 70 percent stake in a Nevada mine to Atna Resources Ltd. in a cash and stock deal.
Atna paid Barrick $15 million in cash and issued Barrick 15 million common shares, representing about 12.8 percent of Atna's outstanding shares. In addition, Atna will give Barrick 10 percent of net profits that trigger once the initial 120,000 ounces of gold are produced by the Humboldt County, Nev., mine.
Barrick said Thursday it plans to hold the Atna shares for investment purposes and may acquire additional common shares of Atna in the future.
