New Venture Equities and Corona Minerals, both units of Corona (TSE), say they have sold 1.32 million shares in Wharf Resources (TSE). In a filing with the U.S. Securities and Exchange Commission, the two companies said they sold the shares at prices of $5.37-6 per share.
New Venture no longer holds any Wharf shares while Corona Minerals retains 1,000.
Corona bought the Wharf shares in 1989 as part of an all-cash takeover bid for former Wharf affiliate Kam-Kotia Mines and for Wharf’s largest shareholder, Dickenson Mines (TSE). Corona lost the takeover battle to Toronto-based gold fund Goldcorp Investments.
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