Valor divests copper assets to chase uranium, rare earths

Valor Resources has a new focus on uranium and rare earths. Credit: File Valor Resources will set a new focus on uranium and rare earths after divesting up to 80 per cent of its Peruvian copper interests to Firetail Resources for an upfront payment of $550,000 and a package of 15 million shares and 20 million performance rights.

The transaction, now approved by Firetail shareholders, will allow Valor to focus on its portfolio of high-grade uranium and rare earths in Canada’s Athabasca Basin, where it holds four strategic projects featuring a series of drill-ready targets.

Under the acquisition agreement, Valor will offload up to 80 per cent of the issued share capital of its fully-owned subsidiary Kiwanda S.A.C. to Firetail. Kiwanda is a Lima-based company and holds the mining concessions that make up Valor’s Picha copper-silver operation and its Charaque copper project in southern Peru.

However, Valor will retain significant exposure to […]

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