MINING MARKETS & INVESTMENT NEWS — Glamis sells oil shares

Glamis Gold (GLG-T) has sold its entire block of shares in BlackRock Ventures (BVI-T) for gross proceeds of US$9.7 million.

The former now has US$39.6 million in working capital, of which US$35.6 million is in cash.

“This transaction which will simplify our business,” says Glamis President Kevin McArthur. “The proceeds will be invested in our core business of low-cost gold production.”