Australian miner MIM Holdings plans to sell its 12.7 million shares of Granges (TSE) to Atlas (NYSE) at a cash price of $4 per share.
The shareholding represents a 37% interest in Granges, which, in turn, has a 50.5% stake in Hycroft Resources & Development (VSE).
Under existing agreements with MIM, Granges has 30 days to find an alternative buyer for the shares on the same terms, or on terms acceptable to MIM.
Granges has not yet decided if it will exercise its 30-day right to find a different buyer.
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