Arena Minerals (AN.V) has continued with its prospector generator model with its latest transaction involving Rouge Resources. Arena is focused on the Atacama Copper Property while leveraging partners’ capital to advance projects. Arena CEO William Randall had this to say about the Rouge transaction:
“We are very pleased to enter into this transaction with Rouge. The disposition of Arena’s interest in Pampas el Peñon is consistent with Arena’s prospector generator model of leveraging partners’ capital to advance projects while still generating economic benefit for Arena shareholders. This is the fourth transaction Arena has entered into with outside partners. The focus for Arena is the Atacama copper property, and the transaction with Rouge will enhance that focus while creating value,”
Arena shares have been wedging higher for much of 2016 and a breakout above resistance near C$.33-.34 would target another 30-40% of upside:
AN.V (Daily)
Meanwhile Rouge Resources (ROU.V) has been one of the hottest stocks on the Venture in 2016 and the 8,650,000 shares of ROU that Arena receives in this transaction allows Arena to continue to benefit from further success at the Pampas el Peñon property and Rouge’s other projects:
ROU.V (Daily)
Click over to read the full press release: Arena Minerals Inc. Enters Into Agreement With Rouge Resources Ltd. on Sale of Pampas el Peñon Project, Chile
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