Gunsynd (GUN) has disposed all of its holdings in 1911 Gold Corporation.
The company sold its remaining 1.83 million shares in 1911 for C$1.3 million, or approximately £711,000.
Gunsynd also advised that it no longer holds any interest in any other publicly listed companies with the exception of its holding in Richmond Hill Resources.
Gunsynd now intends to focus on its portfolio of exploration and development assets in Canada and expects to receive assay results from its recent field work at both its Bear Twit and Barb Gold projects by the end of October.
View from Vox
An announcement of twofold significance. First, a nice injection of cash from the sale of 1911 to fund the continuing work on the Canadian exploration programme. This has been proceeding apace over the summer, and it’s good to see that the momentum is likely to be sustained. Second, Gunsynd is now focussing its energies on exploration and development, and scaling back its investment activities to the point where it now only has one holding – Richmond Hill. That gives greater clarity and a sense of purpose, at a time when mining markets have been injected with new energy. Watch for the results from Bear Twit and Barb.