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Selwyn shareholders agree to JV sale

Keywords: Tags  Selwyn Resources, Chihong, Yunnan, zinc, lead, Harlan Meade

NEW YORK — Selwyn Resources Ltd.’s shareholders have approved the sale of the company’s 50-percent stake in zinc and lead joint venture Selwyn Chihong Mining Ltd. in Canada’s Yukon.

Vancouver, British Columbia-based Selwyn will sell its entire stake to joint-venture partner Chihong Canada Mining Ltd., a subsidiary of Chinese zinc and lead producer Yunnan Chihong Zinc & Germanium Co. Ltd., for $50 million in cash (, March 5).

“We are very pleased that our shareholders approved this transaction,” Selwyn president, chief executive officer and director Harlan Meade said in a statement.

In other news, A. Jay Collins resigned as a director of Selwyn April 22 “in order to avoid the appearance of conflict”.

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