Honey Badger Silver has acquired the Yava project from Blue Moon Metals. The project offers significant exploration upside potential, and Honey Badger is committed to investing in its development.
The sale of the Yava project is expected to close in the fourth quarter of 2024. Image Courtesy: BMM |
Vancouver, British Columbia, Canada – October 2, 2024:
Blue Moon Metals Inc announced that it has entered into a definitive agreement with Honey Badger Silver to sell its Yava project located in Nunavut, Canada.
Pursuant to the agreement, Blue Moon will receive 4,250,000 common shares of Honey Badger, representing approximately 6.5% of the total issued and outstanding shares of Honey Badger. The transaction is valued at approximately $340,000 and is subject to customary closing conditions, including a four-month hold period and a twelve-month lock-up period.
Honey Badger is a silver-focused company with a growing portfolio of high-quality silver projects. The Yava project offers an exciting silver exploration opportunity, and Blue Moon will continue to participate in its future through its material ownership in Honey Badger.
Patrick McGrath, CEO of Blue Moon, commented, "The Yava project is considered non-core for the Company, so we are pleased to monetize the asset and continue to focus on developing our Blue Moon deposit in the United States. We are currently evaluating the next steps for Blue Moon, including the commencement of a Preliminary Economic Assessment."
Blue Moon Metals is advancing its Blue Moon polymetallic deposit, which contains zinc, gold, silver, and copper. The property is strategically located with existing local infrastructure, including paved highways, hydroelectric power, and proximity to major transportation hubs. Zinc is currently considered a critical metal for the U.S. economy and national security.
The sale of the Yava project aligns with Blue Moon's strategy to focus on its core assets and advance the development of its Blue Moon deposit. The Company believes that this transaction will provide it with the necessary resources to accelerate its exploration and development efforts.
Honey Badger is excited about the acquisition of the Yava project. The project has a significant exploration upside potential, and Honey Badger is committed to investing in its development. The Company believes that the Yava project will be a valuable addition to its portfolio of silver projects.
The sale of the Yava project is expected to close in the fourth quarter of 2024.