Western Areas Limited
(ASX:WSA) says it has now completed the sale of its entire shareholding in UK-based mining and exploration company Bluejay Mining PLC.
The Australian nickel-producer says the sale followed a bookbuild process conducted in London, where it sold its 18.8 per cent holding in Bluejay, realising AUD$27 million net of fees.
Western Areas says the transaction was placed to a number of institutional holders, with financial settlement scheduled 15 June 2017.
The company says the funds will be used towards its various organic development and growth projects.
Shares in Western Areas Limited
(ASX:WSA) closed on Friday 0.97 per cent lower to $2.04.
